Medicare Basics
Purpose
-
Inform
Audience
-
Over 65 and certain disabilities
Category
-
Medical Insurance
Part A - Hospital
Part B - Medical
001
Part D- Prescription Drug Plans
-
Provides coverage for prescription medications.
-
Offered by private insurance companies and requires a separate premium.
002
Eligibility
-
Age 65 or Older:
-
Most individuals qualify if they or their spouse worked and paid Medicare taxes for at least 10 years.
-
Under 65:
-
Eligible for individuals with certain disabilities or conditions, such as End-Stage Renal Disease (ESRD) or Amyotrophic Lateral Sclerosis (ALS).
Costs
Premiums: Most people pay no premium for Part A, but Parts B, C, and D require premiums, often income-based.
Deductibles and Copayments: Beneficiaries are responsible for these, though costs vary by plan and coverage.
67
2024 Enrollees in Millions
89
Age 65 or older in Medicare in %
165
Healthcare costs for 65+ in Thousands
