Medicare

Medicare is a federal health insurance program for people aged 65 and older, as well as for some younger people with disabilities and people with end-stage renal disease. The program is administered by the Centers for Medicare & Medicaid Services (CMS) and is funded by taxes, premiums, and general revenue.

Medicare has four parts: Part A, Part B, Part C, and Part D. Part A covers hospital inpatient care, skilled nursing facility care, and hospice care, while Part B covers doctor’s services, outpatient care, and preventive services. Part C, also known as Medicare Advantage, is an alternative way to receive Medicare benefits through private insurance companies, and Part D provides prescription drug coverage.

While Medicare covers a wide range of healthcare services, it does not cover all costs, and beneficiaries may be responsible for certain out-of-pocket costs such as deductibles, copays, and coinsurance. To help cover these costs, beneficiaries may choose to enroll in additional coverage such as a Medicare Supplement Plan or an ancillary plan.

Overall, Medicare is an important program that provides essential healthcare coverage to millions of Americans.