Final answer:
Medicare was signed into law on July 30, 1965, by President Lyndon B. Johnson, aimed at providing health insurance for Americans 65 and older. The program, which was part of the Social Security Amendments of 1965, has been an essential part of the American healthcare system, offering coverage to many who previously lacked it.
Step-by-step explanation:
Medicare was signed into law on July 30, 1965, by President Lyndon B. Johnson. This landmark legislation established a national health insurance program for Americans aged 65 and older, addressing a critical social issue where less than half of all seniors had medical insurance prior to its enactment.
Medicare aimed to provide these citizens with access to necessary medical care, funded through an increase in Social Security taxes. While opposed by some, such as the American Medical Association that feared the onset of 'socialized medicine,' the Medicare program garnered wide public support and quickly passed, becoming one of the most significant social policy achievements of the Johnson administration.
Moving forward, Medicare and its counterpart Medicaid, which provides health insurance for individuals with low income, have played essential roles in the American healthcare system.
These programs increased accessibility and significantly impacted the lives of tens of millions of people, ensuring that healthcare was not solely the privilege of the affluent or those with employment-based insurance.