Medicare Part D
October14
Medicare was first established in the United States in 1965 by President Lyndon B. Johnson to provide health insurance coverage to seniors 65 and over. Harry S. Truman was the first enrollee. When prescription drug costs started skyrocketing, the Medicare part D plan was instituted. This plan helps subsidize prescription drug costs for Medicare beneficiaries. It enacted in 2006. There were 27.6 million beneficiaries as of April 2010. At the end of 2008, $49.5 billion was reported as the total expenditures for the year. Projected net expenditures from 2009 through 2018 are estimated to be $727.3 billion.
