Medicare

A Federal health insurance program for people who are age 65 or older and certain younger people with disabilities. It also covers people with End-Stage Renal Disease (permanent kidney failure requiring dialysis or a transplant, sometimes called ESRD).

A federal government program that provides health care coverage for all eligible individuals age 65 or older or under age 65 with a disability, regardless of income or assets. Eligible individuals can receive coverage for hospital services (Medicare Part A), medical services (Medicare Part B), and prescription drugs (Medicare Part D). Together, Medicare Part A and B are known as Original Medicare. Benefits can also be provided through a Medicare Advantage plan (Medicare Part C). These plans are regulated by the Center for Medicare and Medicaid Services (CMS).

Medicare is a federal government insurance program designed to provide healthcare coverage for people 65 or older, certain disabled people, and people with chronic kidney disease.

Anyone who qualifies for Social Security is automatically eligible for Medicare at 65.

Part A, which covers hospital and certain other costs, is provided when you enroll. You can also sign up for Part B, which covers doctor visits and related costs, and Part D, which covers prescription medicines, at the same time.

You pay a separate premium for both Part B and Part D. The Part B premium is set annually and carries surcharges for people whose incomes are above the annual ceilings. Your Part D premium is determined by the private insurer plan you select. If you postpone applying for Parts B and D and don't have equivalent or better coverage - called creditable coverage - from another plan, you face a permanent surcharge when you do enroll.

You may also have a choice between Original Medicare, which is a fee-for-service plan run by the government, or a Medicare Advantage plan if one is available where you live. Medicare Advantage plans are private insurer plans.