"Many retirees can't wait until they turn age 65 and become eligible for Medicare, the federal health insurance program for senior citizens. But many are also surprised by the complex rules of the program. There are important deadlines to make and potential fees if you miss them. Those working past age 65 face important decisions. This article covers the most important things to know about Medicare."
"There are several types of Medicare: Medicare Part A covers hospital costs, nursing homes, hospice, and home health care Part B covers doctor's visits, preventative treatments, outpatient services, medical equipment, and home health care Part C (also known as Medicare Advantage) is a Medicare-approved plan from a private company that offers an alternative. These bundled plans include Part A, Part B, and usually Part D."
Medicare provides federal health insurance primarily for people age 65 and older and for some under-65 individuals with specified disabilities or conditions. Medicare differs from Medicaid, which serves certain low-income populations through joint federal-state programs. Medicare includes Part A (hospital, nursing home, hospice, home health), Part B (doctor visits, outpatient services, equipment), Part C/Medicare Advantage (private plans bundling A, B, often D and extra benefits), Part D (prescription drugs), and optional Medigap supplemental policies to cover cost-sharing. Enrollment requires timely decisions because deadlines and missed-enrollment penalties can affect premiums and coverage choices, especially for those working past 65.
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