History of Medicare: Timeline Infographic

history-of-medicare-seniorquote

From a major period of reform in the 1960s to the present-day influences of the Affordable Care Act, Medicare has evolved into the largest healthcare provider in our nation for older Americans. For 49 years, Medicare has passed significant milestones to become what it is today. Follow us back in time to learn the roots of Medicare and how it has changed in legislation and policy.

In 1935, the Social Security Act was established and included federal assistance for Americans aged 65 and older. Decades later, on July 30th, 1965, the Social Security Act was amended to include Medicare, the health insurance program for nearly all Americans 65 and older and Medicaid, the health insurance program for low income Americans. Medicare is broken down into Medicare Part A (hospital insurance) and Part B (medical insurance). July 30th, 1965 is now considered Medicare’s birthday.

In 1966, Medicare was implemented and more than 19 million individuals enrolled at an annual cost of $64 Million. Former President, Harry S. Truman was issued the first Medicare card in history.

In 1977, the Healthcare Finance Administration was established by the Department of Health, Education and Welfare to administer the Medicare and Medicaid programs. The Department of Health, Education and Welfare became the Department of Health and Human Services in 1980. At this time, Medigap (Supplement Insurance) came under Federal oversight. Shortly after in 1982, the Tax Equity and Fiscal Responsibility Act provided the foundation for substantial growth of Medicare Part C managed care arrangements. This resulted in more health maintenance organizations, or HMOs, servicing Medicare beneficiaries. Medicare Part C also provides the ability to either choose a Medicare private health plan (HMO), or stick with Original Medicare.

The Social Security Administration then separated from the Department of Health and Human Services in 1995. The next year, the Health Insurance Administration Portability and Accountability Act was set in place to improve the efficiency and effectiveness of Medicare. In 1997, the Balanced Budget Act ushered in new health plan choices & a coordinated Open Enrollment Process. In 1998, Medicare.gov was launched and then in 1999, a toll-free information line was set up.

In 2001, the Healthcare Finance Administration became the Centers for Medicaid and Medicare Services, while continuing to administer programs. In 2003, the Medicare Prescription Drug, Improvement, and Modernization Act (MMA) made the most significant changes to Medicare to date and resulted in Medicare Part D. Part D is voluntary and makes outpatient prescription drug coverage affordable for nearly all Americans aged 65 and up. Part D is commonly explained with the “Donut Hole” metaphor, which describes the coverage gap, or limit, on what the drug plan will cover.

More recently, the Patient Protection and Affordable Care Act of 2010, commonly referred to as the “Affordable Care Act” or “Obamacare,” was established to increase the quality and affordability of health insurance. Now, on July 30th, 2014, Medicare reaches its 49th birthday. Projections for the future include an estimated enrollment of 50 million Americans and over $540 billion in annual cost.

With all of these legislation and policy changes, it can be a bit overwhelming to fully understand the Medicare system. This is the reason for SeniorQuote Insurance Services- to help consumers sort through the healthcare coverage options and find the best solution for each individual.

Sources
http://www.cms.gov/About-CMS/Agency-Information/History/index.html?redirect=/History/
http://www.cms.gov/About-CMS/Agency-Information/History/downloads/CMSProgramKeyMilestones.pdf 
http://govbooktalk.gpo.gov/2014/07/24/happy-birthday-medicare/

Lack of Healthcare Coverage Contributes to Senior Bankruptcies

SeniorQuote Insurance Services Seeks to Protect Seniors
Through Unique Comparison Service that Offers Affordable Healthcare Options

San Diego, California (January 29, 2014) – Rising healthcare costs are threatening the financial security of Americans over the age of 65.  According to the Center for Disease Control and Prevention, healthcare costs are rising at a rate that is outpacing standard healthcare insurance coverage.  According to a report updated by the CDC in October of 2013, personal health expenditures, which include services such as physician visits, hospital care, dental care, prescription drugs and nursing home care accounted for 84 percent of national health care expenditures in 2007, while private health insurance paid for only 36 percent of these personal health expenditures.  Seniors are struggling with the rising cost of their personal healthcare as a result of this coverage gap.

William Haynor, a business leader with more than 40 years of experience in the insurance industry, is working to address this coverage gap and protect seniors from debt and bankruptcy through SeniorQuote Insurance Services.  SeniorQuote is a unique service that provides seniors with the ability to cross-shop multiple insurance carriers for Medicare Supplement and Medicare Advantage Plans, with the support and guidance of SeniorQuote’s experienced team of insurance professionals. Haynor, age 72, says that he created the company based on his own experiences in trying to choose the right supplement plan for his personal Medicare coverage.

“I have always been healthy and active,” said Haynor. “But in 2010 it seemed that all at once I was hit with every medical problem you could image.  I was laid up in the hospital for weeks and without proper Medicare Supplemental insurance, the bills would have threatened my family’s savings.  I was thankful that I had the right medical coverage.  Our goal is to provide this same measure of healthcare security to as many seniors as possible.”

According to a study published in early 2005, 46 percent of US personal bankruptcies were related to outstanding medical expenses.  Meanwhile, bankruptcies for individuals over the age of 55 have more than doubled since the early 1990s, with the rising cost of healthcare expenses as the major contributor.

“With the right healthcare coverage, we believe many of these bankruptcies could be avoided,” continued Haynor.  “Individuals relying on standard Medicare coverage are not completely protected.  In my case, the medical expenses not covered by Medicare could have totaled more than $100,000.  Fortunately, my supplement plan covered these additional costs and I paid virtually nothing.”

SeniorQuote operates a nationwide call-in support center designed to assist seniors in finding the healthcare coverage program that best fit their personal needs.  Haynor and his team of licensed agents continue to expand their customer’s choices with the addition of new coverage programs from many of the industry’s top insurance carriers.  The company recently added final expense insurance to their list of services to support the growing population of seniors and their families.  Haynor plans to launch a series of Youtube videos in which he instructs seniors on the importance of final expense insurance and Medicare coverage , as he chronicles his personal experiences in finding the right supplement insurance for his family.

About SeniorQuote Insurance Services, Inc.
SeniorQuote Insurance Services, Inc., headquartered in San Diego, California, is a Medicare Supplement, Advantage, and final expense insurance agency founded for the singular purpose of helping seniors find the perfect insurance coverage to meet the needs of their family.  The company, founded by veteran insurance executive William Haynor, offers Medicare Supplement, Advantage and final expense products from several of the nation’s leading and most respected carriers, through a team of licensed, experienced, and  highly trained customer associates.  To learn more about the company and the carriers represented, visit SeniorQuote.com or call 800-992-7724.

 

SeniorQuote Insurance Services Expands Coverage to Pennsylvania

Pennsylvania seen as key state for company’s nationwide expansion of
unique comparison service for Medicare Supplement, Advantage and Final Expense customers

San Diego, California (January 15, 2014) – SeniorQuote Insurance Services has expanded their comparison service to include the state of Pennsylvania.  With the addition of Pennsylvania, SeniorQuote now offers their unique call-in support and comparison services to seniors in over 35 states.

SeniorQuote offers seniors the ability to cross-shop multiple carriers for Medicare Supplement, Medicare Advantage Plans, and final expense insurance with additional support and guidance of an experienced team of insurance professionals.  The U.S. Medicare population has soared to over 50 million and is projected to reach 64 million by 2020.  To keep pace with this incredible growth, SeniorQuote has implemented an aggressive expansion plan to keep pace, including the addition of new states within its coverage area.

William Haynor, a business leader with more than 40 years of experience in the insurance industry and one of the founders of SelectQuote Insurance Services, is the founder and CEO of SeniorQuote.  Haynor, age 72, says that he created the company based on his own experiences in trying to choose the right supplement plan for his personal Medicare coverage.

“We see Pennsylvania as a very important state for our coverage expansion plans,” said Haynor. “The senior and Medicare population is growing at an unprecedented rate in the United States. All of these people want better choices, lower prices, and greater service. We want to make sure that we can cover as many seniors and Medicare eligible individuals as possible. Covering Pennsylvania was an important step.”

SeniorQuote operates a call-in support center and employs a growing staff of experienced insurance associates and executives.   Haynor and his team of licensed agents continue to expand their customer’s choices with the addition of new coverage programs from many of the industry’s top insurance carriers.  The company recently added final expense insurance to their list of services to support the growing population of seniors.  Haynor plans to launch a series of Youtube videos in which he instructs seniors on the importance of final expense insurance and Medicare coverage , as he chronicles his personal experiences in finding the right supplement insurance for his family.

 About SeniorQuote Insurance Services, Inc.
SeniorQuote Insurance Services, Inc., headquartered in San Diego, California, is a Medicare Supplement, Advantage, and final expense insurance agency founded for the singular purpose of helping seniors find the perfect insurance coverage to meet the needs of their family.  The company, founded by veteran insurance executive William Haynor, offers Medicare Supplement, Advantage and final expense products from several of the nation’s leading and most respected carriers, through a team of licensed, experienced, and  highly trained customer associates.  To learn more about the company and the carriers represented, visit SeniorQuote.com or call 800-992-7724.