Medicare

Medicare is a federally funded health insurance program in the United States designed primarily for individuals who are 65 or older, although it also covers certain younger people with disabilities and individuals with End-Stage Renal Disease (permanent kidney failure requiring dialysis or a transplant). The program helps with the cost of health care but does not cover all medical expenses or the cost of most long-term care. From a medical perspective, Medicare is divided into different parts that cover specific services.

Part A, or hospital insurance, covers inpatient hospital stays, care in a skilled nursing facility, hospice care, and some home health care. Part B, or medical insurance, helps pay for doctors' services, outpatient care, medical supplies, and preventive services. Part C, known as Medicare Advantage Plans, is an alternative to the standard Part A and B coverage and is offered by private companies approved by Medicare; these plans often include prescription drug coverage. Finally, Part D adds prescription drug coverage to the original Medicare, some Medicare Cost Plans, some Private Fee-for-Service plans, and Medicare Medical Savings Account Plans. These plans are offered by insurance companies and other private companies approved by Medicare.