What is Medicare?

Medicare is a federal health insurance program in the United States primarily designed for individuals aged 65 and older, although it also covers certain younger individuals with disabilities or specific medical conditions like End-Stage Renal Disease (ESRD). It was established in 1965 to provide affordable healthcare to older adults, ensuring they have access to necessary medical services such as hospital care, doctor’s visits, and prescription drugs. Medicare helps reduce the financial burden of medical costs for seniors and disabled individuals, promoting access to health services that are crucial for their well-being.

Medicare is divided into four parts: Part A, which covers hospital and inpatient care; Part B, which covers outpatient services like doctor visits, preventive care, and medical supplies; Part C, also known as Medicare Advantage, which offers additional coverage through private insurance companies; and Part D, which provides prescription drug coverage. These parts work together to ensure beneficiaries have comprehensive coverage for a wide range of healthcare needs, depending on their preferences and medical requirements.

For most people, enrolling in Medicare is an important milestone, and understanding how it works is key to getting the most from their coverage. Eligibility for Medicare typically begins at age 65, but enrollment can happen earlier for those with certain disabilities or health conditions. It’s important to sign up during the Initial Enrollment Period to avoid late penalties and to ensure that healthcare needs are covered as soon as the individual is eligible.