Medicare is a federal health insurance program primarily for individuals aged 65 and older, but also assists some younger individuals with disabilities and those with specific health conditions. It is divided into several parts, each designed to cover different aspects of healthcare.

Part A: Hospital Insurance

Part A covers inpatient hospital stays, skilled nursing facility care, hospice care, and some home health care. Most individuals do not pay a monthly premium for Part A if they or their spouse paid Medicare taxes for a certain amount of time while working.

Part B: Medical Insurance

Part B covers outpatient care, preventive services, and some home health care. Beneficiaries typically pay a monthly premium for Part B, which is based on their income.

Part C: Medicare Advantage

Part C is an alternative to Original Medicare (Parts A and B) and is offered through private insurance companies approved by Medicare. Medicare Advantage plans often include additional benefits such as vision, dental, and hearing coverage.

Part D: Prescription Drug Coverage

Part D provides prescription drug coverage through private insurers. Beneficiaries can choose a stand-alone prescription drug plan or a Medicare Advantage plan that includes drug coverage.

Enrollment

Enrollment in Medicare begins three months before an individual turns 65 and continues for seven months. Those under 65 may qualify for Medicare after 24 months of receiving Social Security Disability Insurance (SSDI) or due to certain conditions like End-Stage Renal Disease (ESRD) or Amyotrophic Lateral Sclerosis (ALS).

Costs

While Medicare helps cover many healthcare expenses, it does not cover all costs. Beneficiaries may still be responsible for premiums, deductibles, copayments, and coinsurance. Supplemental insurance, known as Medigap, can help cover out-of-pocket costs.