Medicare is a federal health insurance program that was created in 1965 to provide health coverage for people over 65 years old and those with certain disabilities.

It is funded by taxes and premiums paid by beneficiaries. There are four parts of Medicare:

Part A: Hospital Insurance – covers inpatient hospital care, skilled nursing facility care, hospice care, and some home health care.

Part B: Medical Insurance – covers doctor visits, outpatient care, preventive services, and some medical equipment.

Part C: Medicare Advantage – allows beneficiaries to receive their Medicare benefits through a private insurance company. These plans often offer additional benefits such as dental and vision coverage.

Part D: Prescription Drug Coverage – helps pay for prescription drugs.

It is important to note that Medicare does not cover all healthcare services, and beneficiaries may still have out-of-pocket expenses such as deductibles, copays, and coinsurance.

To enroll in Medicare, individuals can sign up during their Initial Enrollment Period (IEP), which is usually around the time they turn 65. If someone does not sign up during their IEP, they may have to pay a late enrollment penalty.

Medicare has been a vital program for many Americans, providing healthcare coverage for millions of people. However, there have been ongoing debates about its sustainability and potential future changes. It is important for individuals to stay informed about the program and any changes that may affect their coverage.