Happy 50th Anniversary Medicare!

by Stephanie Frisch

unnamedMost people don’t realize the age of the Medicare program. It was first launched in 1965 along with Medicaid, with the first full year of enrollment being 1966.

Think back to what our world was like in 1965: The average life expectancy was 70.2 years, average cost of a new home was $23,300 and the price of a gallon of gas was .32 cents. So much has changed since then, but one thing has remained consistent for fifty years: Very few people understand the Medicare program.

Now, you would think that a nationwide insurance program that’s been around for 50 years would be well understood by the American public, but it’s not. Unless the federal government starts enforcing a mandatory educational course to attend and a test to pass to receive Medicare benefits, it very likely never will be.

This is why I think it’s important to take an educational approach when meeting with someone new to Medicare, someone that has only carried original Medicare due to lack of understanding of the risk of doing so, or an existing beneficiary that just enrolled in the first plan they looked without really understand what Medicare is all about.

One of the best places to get an education about Medicare if you don’t meet with me is Medicare.gov.

This is a website dedicated to all things Medicare! It’s where I go when I don’t know the answer to my clients’ questions. Yes there is a lot of information there, and yes it can be overwhelming. But, if you just read a section at a time, starting around age 60 or so, I believe you could fully understand Medicare by the time 65 rolls around.

Or, you could just schedule an appointment with me, remember, my services are free.

Stephanie Frisch is the owner of Insurance 101 and is an independent insurance broker dedicated to helping others make “educated decisions” about their insurance choices when it comes to Medicare, Long-Term Care Planning, The Health Insurance Marketplace-Covered California and Life Insurance. For answers to your questions, or an in-home, no-fee consultation, call (949) 351-2443.

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