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What is Medicare?

Medicare is a federal insurance program that provides guaranteed health coverage for Americans age 65 and older, as well as younger people with disabilities. Since its creation in 1965, Medicare has helped millions of people pay for medical care regardless of their income or health status, with over 67.4 million Americans currently enrolled. Medicare has been instrumental in reducing poverty among seniors and provides peace of mind by helping older Americans maintain their health and independence. 

The program is structured in different parts: 

• Part A covers hospital stays and skilled nursing care

• Part B covers doctor visits and outpatient services

• Part C (Medicare Advantage) is an alternative offered by private insurers

• Part D helps with prescription drug costs.

Medicare consists of four main parts that work together to provide comprehensive health coverage. 

Parts A and B make up Original Medicare - 

• Part A helps pay for inpatient hospital stays, skilled nursing facility care, some home health care, and hospice care, while 

• Part B covers doctors' services, diagnostic screenings, lab tests, preventive services, outpatient care, and medical equipment

Part C, also known as Medicare Advantage - 

• Part C is a private insurance alternative that typically combines Parts A, B, and D coverage into one plan

Part D - 

• Part D specifically covers prescription drugs, which can be obtained either through a standalone policy or as part of a Medicare Advantage plan 

As of 2025, Medicare Advantage has become increasingly popular with over 51% of eligible beneficiaries enrolled in these plans.