What Is Medicare Insurance?

Learn who qualifies, when to enroll, and how the different parts of Medicare work together.

Understanding Medicare Insurance

Medicare is a federal health insurance program primarily for people aged 65 and older. It also covers certain younger individuals with specific disabilities or medical conditions. Medicare is administered by the Centers for Medicare & Medicaid Services (CMS), a part of the U.S. Department of Health and Human Services.

The Four Parts of Medicare

Medicare is divided into distinct parts, each covering different types of healthcare services.

Part A — Hospital Insurance

Covers inpatient hospital stays, skilled nursing facility care, hospice care, and some home health services. Most people do not pay a monthly premium for Part A if they or their spouse paid Medicare taxes while working.

Part B — Medical Insurance

Covers outpatient care, doctor visits, preventive services, durable medical equipment, and some home health services. Part B requires a monthly premium, which may vary based on income.

Part C — Medicare Advantage Plans

An alternative way to receive your Medicare benefits through private insurance companies that contract with Medicare with Medicare. These plans include Part A and Part B coverage and may include additional benefits such as vision, hearing, and dental.

Part D — Prescription Drug Plans

Helps cover the cost of prescription drugs. Part D plans are offered by private insurance companies that contract with Medicare. Coverage and costs vary by plan.

Who Is Eligible?

You are generally eligible for Medicare if you are a U.S. citizen or permanent legal resident who has lived in the United States for at least five consecutive years, and you meet one of the following criteria: you are 65 or older, you have received Social Security disability benefits for 24 months, or you have been diagnosed with End-Stage Renal Disease (ESRD) or Amyotrophic Lateral Sclerosis (ALS).

When Can You Enroll?

Your Initial Enrollment Period (IEP) is a seven-month window that begins three months before the month you turn 65, includes your birthday month, and ends three months after. If you miss this window, you may be subject to late enrollment penalties or have to wait for the General Enrollment Period, which runs from January 1 through March 31 each year, with coverage starting July 1.

Continue Learning

Medicare Insurance Cost

Understand the premiums, deductibles, and out-of-pocket costs you may encounter.

Coverage Options

Explore the different ways to receive your Medicare benefits.

Have Questions About Medicare Insurance?

One-on-one guidance to help you understand your options and make confident decisions.