The Medicare and Medicaid programs were established by Title XIX of the Social Security Act and signed into law on July 30, 1965. Then President Lyndon B. Johnson signed the legislation in Independence, Missouri at the Truman Library with former President Truman (the champion of both causes) sitting beside him. However, it wasn’t until July 1, 1966 that American’s were eligible to start receiving the benefits.
Throughout their 45 years, many changes (mostly expansions) have occurred. Although each alteration and addition to the programs has been designed to assist those in need, good intentions and poor implementation have led to decades of irresponsibility, perverse incentives and unsustainable financial demands.
