Final answer:
Medicare's founders aspired to create a health insurance system to support elderly Americans, many of whom lacked coverage, through the Social Security Act of 1965. Despite initial exclusions and opposition, it established essential healthcare support for seniors.
Step-by-step explanation:
The long-term aspirations of Medicare's founders were to provide a federal system of health insurance for the elderly, addressing the urgent need whereby less than half of Americans above the age of sixty-five had medical insurance. This situation left many unable to obtain necessary medical care. The architects of Medicare aimed to alleviate this through the Social Security Act of 1965. Despite challenges and opposition, such as from the American Medical Association which labeled the program 'socialized medicine', and initial shortcomings like not covering dental or vision care, Medicare provided a crucial safety net. It offered Plan A, covering hospital bills, and Plan B, which functioned like an employer's health plan, with small premiums and the government covering the majority of costs. The Medicare program evolved to become a cornerstone of American healthcare, indicative of the government's commitment to caring for its senior citizens.