United States Medicare is a federal health insurance program primarily serving individuals aged 65 and older, although it also covers younger people with certain disabilities and certain end-stage disease). Established in 1965, Medicare aims to provide affordable healthcare coverage to millions of Americans, ensuring access to necessary medical services and reducing the financial burden of healthcare costs.
Medicare is divided into four parts: Part A, Part B, Part C, and Part D. Part A covers inpatient hospital stays, skilled nursing facility care, hospice care, and some home health services. Most beneficiaries do not pay a premium for Part A if they or their spouse have paid Medicare taxes for a sufficient period.
Part B covers outpatient care, doctor visits, preventive services, and medical supplies. Unlike Part A, Part B requires a monthly premium, which varies based on income. Together, Parts A and B are known as Original Medicare.
Part C, or Medicare Advantage, is an alternative to Original Medicare offered by private insurance companies approved by Medicare. These plans must cover all the services provided by Parts A and B and often include additional benefits such as vision, dental, and prescription drug coverage. Part D, also managed by private insurers, provides prescription drug coverage to help manage the cost of medications.
Medicare plays a vital role in ensuring access to healthcare for older adults and people with disabilities, promoting their health and well-being. Understanding the different parts of Medicare and how they work together is essential for beneficiaries to maximize their benefits and navigate their healthcare needs effectively.