M&M, two health programs Medicare and Medicaid were among the most important inventions of the 1965. It was on July 30, when Lyndon B. Johnson, who was serving as president during that time, signed the bill into law.

Generally, there is confusion among the two programs. It is a welfare program, through which the federal government helps the states pay for medical care for 71.6 million having low income, together with 30 million children. The federal money is collected income taxes and borrowing. When it comes to eligibility, benefits and administrative details, these may differ from state to state, however the federal share is at least 50% and goes up to 90% for states that are the poorest.

As per reports, Medicare is common health insurance for people who are 65 or older and it has covered 46 million older Americans this year in addition to 8.9 million younger people who meet the criteria on account of disabilities.

It has been reported that approximately a third of its money is collected from the Hospital Insurance part of the Federal Insurance Contributions Act payroll tax, and a sixth comes from beneficiaries through premiums and deductibles. And the rest of the money comes from federal income taxes and borrowing.

Approximately, 11 million people could get benefit of both programs; 115.5 million Americans are reported to be beneficiaries of M&M out of the US population of 325 million.

Before introduction of M&M, costs associated with health care were a major reason behind impoverishment in old people. At present, most seniors are aware that there have no problem regarding their bills, however health-care costs could put the US's fiscal health in danger.