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What is Medicare:
• Health Insurance for people
1. 65 and older
2. Under 65 with certain disabilities
3. Any age End-Stage Renal Disease (ESRD)
Who Runs Medicare:
• It's administered by
1. Centers for Medicare & Medicaid Services (CMS)
• But Enrollment is done by
o Social Security Administration (SSA) for most
o Railroad Retirement Board (RRB) for railroad retirees
The Four Parts of Medicare
• PART A: Hospital Insurance
• PART B: Medical Insurance
• PART C: Medicare Advantage Plans (like HMO/PPOs)
• PART D: Medicare Prescription Drug Coverage
PART A = Hospital Insurance
• Help pay for things such as a overnight hospital stay, including your room, tests, doctor fees and food
• If you paid in to Social Security for 10 years Part A comes with no monthly premium and you are automatically enrolled
• Otherwise you have sign up to get the benefits and you may have to pay a monthly premium
• You may have a penalty if not bought when first eligible