Medicare, a health insurance program funded by the federal government, is tailored to offer coverage for individuals aged 65 and above, alongside certain younger individuals with qualifying disabilities. The program is structured into distinct segments, each catering to specific dimensions of healthcare coverage:

• Part A - Hospital Insurance: This covers inpatient hospital stays, skilled nursing facility care, hospice care, and some home health care.

• Part B - Medical Insurance: Part B covers outpatient care, doctor’s visits, preventive services, and certain home health services. It requires a monthly premium.
  

• Part C - Medical Advantage: Offered by private insurance companies approved by Medicare, Part C plans combine coverage from Part A and Part B, often with additional benefits such as vision, dental, and prescription drug coverage.
  

• Part D - Prescription Drug Coverage: Part D plans are standalone prescription drug plans offered by private insurance companies to help cover the cost of prescription medications.

Who benefits from medicare?

The primary beneficiaries of Medicare are individuals aged 65 and older. As people age, their healthcare needs tend to increase, and Medicare provides them with crucial financial support to access medical services without facing exorbitant out-of-pocket expenses. The initial Enrollment Period to sign up for Medicare begins 3 month before you turn 65 and ends 3 months after the month you turn 65 -- a total of 7 months. You may have to pay a penalty if you miss your Initial Enrollment Period.

People under 65 with certain disabilities, such as end-stage renal disease (ESRD) or amyotrophic lateral sclerosis (ALS), can also qualify for Medicare. For those with disabilities, Medicare offers a lifeline of coverage that may be otherwise unattainable due to health-related limitations.

Medicare Stands as a testament to the commitment of a society to provide quality healthcare for all, especially its vulnerable populations. As a comprehensive health insurance program, it offers a lifeline of support to senior citizens, individuals with disabilities, and those seeking affordable and accessible healthcare.

Did you know?

Having both Medicare and private health insurance coverage is entirely feasible. This situation is commonly known as “dual coverage”. How Medicare and private insurance interact depends on your individual circumstances and the nature of your private insurance.

For example:

Group health insurance

• Individuals 65+, who have insurance throughout an employer or a spouse’s employer with under 20 employees.
• Primary-Medicare, Secondary-Employer
• Individuals 65+ who have insurance throughout there employer with over 20 employees
• Primary-Employer, Secondary-Medicare

Medicare provides financial support to access healthcare as people age to individuals aged 65 and older.

65 & older

Medicare is designed to provide health coverage for individuals who are 65 years old or older.

Disability

Medicare also covers individuals under the age of 65 with certain disabilities.

Medical

Medicare provides coverage for individuals of any age who have end-stage renal disease or amyotrophic lateral sclerosis.