In 1965, almost half of America’s seniors had no health insurance. For the men and women who survived two World Wars and the Great Depression, retirement often meant insecurity and hopelessness. Our nation’s seniors reached their most medically vulnerable years with few, and sometimes no health care options. That’s why, after decades of failed attempts to right this wrong, the establishment of Medicare and Medicaid wasn’t just health care reform, it was a turning point in our nation’s history.
When he signed that legislation 49 years ago today, President Lyndon Johnson spoke for the nation, saying, “No longer will older Americans be denied the healing miracle of modern medicine. No longer will illness crush and destroy the savings that they have so carefully put away over a lifetime so that they might enjoy dignity in their later years.”
After a lifetime of contributing so much to our nation, our seniors deserve to be able to live out their years with the dignity, security, and the peace of mind that comes with enrollment in Medicare. We can do no less for the millions of vulnerable families, children, seniors, and individuals living with disabilities than provide access to quality health care through Medicaid, as well.
Today, Medicare and Medicaid are arguably our country’s single most important anti-poverty initiatives. As we celebrate their 49th anniversary, 52 million people are now covered by Medicare and more than 60 million people by Medicaid.
Information released today by the U.S. Department of Health and Human Services shows that more than 8.2 million seniors and people with disabilities with Medicare continue to enjoy prescription drug savings as a result of the Affordable Care Act, saving $11.5 billion since 2010. “By making prescription drugs more affordable, we are improving and promoting the best care for people with Medicare” said HHS Secretary Sylvia M. Burwell.
According to the data, Nevadans alone have a total of 10,445 beneficiaries that each saved on average $796 for prescription drugs. This has amounted to $67 million in total discounts for all beneficiaries in the state of Nevada.
More than ever, we are committed to making health coverage more accessible and affordable for all Americans, while continuing to improve the quality of care. We are making significant progress on that commitment and seeing incredible results.
In fact, earlier this week the Department of Health and Human Services reported that Medicare is considerably stronger than it was four years ago when President Obama signed the Affordable Care Act. Medicare is more solvent. It’s more cost effective. And it’s delivering high-quality care for our parents, grandparents, aunts, and uncles.
Just a few years ago, the Medicare Trust Fund was projected to run out of money by 2017. Now, thanks in part to the Affordable Care Act, we’ve extended the life of the fund through 2030. Medicare spending per beneficiary is growing slower than the growth in the economy.
For beneficiaries, that means the Trust Fund and their benefits are more secure. For taxpayers, a strong Trust Fund means it will be there in the future for new seniors.
President Johnson once said, “There are no problems we cannot solve together, and very few that we can solve by ourselves.”
Forty-nine years ago, we came together to declare that we, as a nation, owed our parents, grandparents, children, and our most vulnerable neighbors better than health uncertainty and insecurity. Our work to keep Medicare and Medicaid strong for all future generations is not over, but we remain committed to that sacred promise. Working together, we can ensure that all Americans have the medical care they need to live with the security and dignity they deserve.