On June 30, 1965, President Johnson signed H.R. 6675, which led to the creation of Medicare and Medicaid. Under this bill, Medicare Parts A and B were created and today these benefits are commonly referred to as “Original Medicare”.
To understand Medicare, it’s important to start with Original Medicare, because Parts A and B are often considered its building blocks. Having a solid understanding of the costs and benefits of Original Medicare is important since almost everyone is required to enroll in Parts A and B when seeking post-retirement health benefits. For example, to enroll in additional benefits such as a Medicare Supplement or Medicare Advantage plan, enrollment in Original Medicare is a must. Additionally, many employer-retiree plans, Tricare, and other corporate-sponsored retiree programs require enrollment into Original Medicare as part of your post-retirement health benefits.