Medicare is a health insurance program run by the federal government. This program mostly covers people over the age of 65. However, it also covers certain younger individuals with disabilities and kidney failure. Here are some of the things you may want to know about Medicare.

How Does Medicare Works?

Medicare is funded by the federal government of the United States. It's a national program that was created as part of amendments to the 1965 Social Security Act. The aim was to extend coverage to individuals over the age of 65 who could not afford health insurance or didn't have it for other reasons. Medicare is now administered by the Centers for Medicare and Medicaid Services. Medicare has four different parts, including Parts A, B, C, and D.

Who Is Medicare For?

Medicare serves an impressive number of people throughout the United States. According to the Kaiser Family Foundation, Medicare plays a key role in ensuring that more than 60 million individuals have health and financial security. This includes older people and younger individuals with disabilities. There are several factors that determine eligibility. The program accepts people who have lived in the U.S. legally for no less than five years and are over the age of 65. Anyone who receives Social Security benefits has automatic enrollment into Parts A and B. On the other hand, Medicare Part D is optional. People younger than 65 can qualify for Medicare if they receive Social Security Disability Insurance (SSDI). Upon applying for Medicare and being approved, those who receive SSDI will need to wait for about 24 months after they start receiving their first check before they become eligible for Medicare and Medicare supplement insurance.

What Is Needed for Medicare Enrollment?

Are you eligible to receive Social Security benefits and above the age of 65? If yes, then you should have been automatically enrolled in Parts A and B, which cover hospital costs and visits to the doctor, respectively. Nothing needs to be done for a person to enroll in these programs. However, when it comes to Parts C and D, you will need to go through the enrollment process. For instance, if you need prescription drug coverage, you can enroll in Medicare Part D. If you aren't eligible for Parts C and D, you can also get Medicare supplement insurance from a 3rd-party insurance vendor.

Now that you have a basic understanding of what Medicare is, do you still have Medicare-related questions? If you're looking for more information or a Medicare supplement insurance plan, get in touch with ValuCare Insurance Services today. We'll provide answers to your burning questions, and we would love to hear from you.