Medicare

Medicare is a federal health insurance program primarily for individuals aged 65 and older, but it also covers certain younger people with disabilities and those with End-Stage Renal Disease. Medicare consists of different parts that cover specific services: Part A (Hospital Insurance), Part B (Medical Insurance), Part C (Medicare Advantage Plans), and Part D (Prescription Drug Coverage).

Medicare Part A covers inpatient hospital stays, care in a skilled nursing facility, hospice care, and some home health care. Most people do not have to pay a premium for Part A if they or their spouse paid Medicare taxes while working. Medicare Part B covers medically necessary services like doctors’ services, outpatient care, medical supplies, and preventive services. 

Medicare Advantage Plans, also known as Part C, are an alternative to Original Medicare (Parts A and B). These plans are offered by private insurance companies approved by Medicare and include all the benefits of Part A and Part B, and often include additional benefits like vision, dental, and hearing coverage. Many Medicare Advantage Plans also include prescription drug coverage when combined with Part D. While Part D plans are offered by private insurance companies approved by Medicare, they may also require a monthly premium.

You can enroll in Medicare during your Initial Enrollment Period, which begins three months before you turn 65 and ends three months after the month you turn 65. If you are already receiving Social Security benefits, you will be automatically enrolled in Parts A and B. If not, you can sign up online at the Social Security website, by phone, or by visiting your local Social Security office. There are also Special Enrollment Periods and General Enrollment Periods for those who miss their Initial Enrollment Period.