Medicare

What it means

A federal health insurance program that covers people age 65 and older, people who have received SSDI for at least 24 months, and people with end-stage renal disease or ALS. Medicare has four parts. Part A covers hospital care and is usually free for people who paid Medicare taxes. Part B covers doctor visits and outpatient care and has a monthly premium. Part C (Medicare Advantage) is a private plan that bundles Parts A and B and often Part D. Part D covers prescription drugs through private plans. Medicare does not cover everything — it has copays, deductibles, and gaps. People with low income may qualify for a Medicare Savings Program that pays the premiums and cost-sharing, or for both Medicare and Medicaid (called dual eligible). The annual open enrollment period for changing plans is October 15 through December 7.

When you might hear this

Medicare is the federal health insurance program mainly for people age 65 and older, plus some younger people with certain disabilities or end-stage renal disease. It is different from Medicaid — Medicare is for seniors regardless of income, Medicaid is for low-income people of any age.

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