Tip # 644 - about the Medicare and Marketplace Open Enrollments - ended by ‘teasing’ some “interesting statistics” this
week.
Here you go.
Lyndon Johnson was re-elected in 1964 with 43.1 of 70.3 million votes; 61%.
Medicare was signed into law July 30, 1965. In it’s first year (1966), it covered 19 million seniors with a budget of $10 billion. The Part B premium was
$3.00.
Today, Medicare covers 66 million people - 34 MM in ‘traditional’ Medicare and 32 MM in Medicare Advantage (Source: Center for Medicare Advocacy) - with a 2024 budget of (gulp) $1 TRILLION! The standard Part B premium for 2024 is $174.70. (Hey, why are they late
releasing the 2025 premiums?)
Moving on.
Barack Obama was elected in 2008 with 69.5 of 129.4 million votes; 53%.
The Affordable Care Act (ACA, or ‘Obamacare’) was signed into law March 23rd, 2010.
Then, there were 48 million uninsured, or about 18% of non-elderly Americans. Today that number is 27 million, or ‘just’ 7.7%. Well done.
Health insurance premiums for single coverage in 2010 averaged $421/month. Today, that “affordable” number is $746 (Source: KFF).
Pretty interesting, right?
Wish I had another 30 Seconds.
