Medicare is a federal health insurance program primarily for people aged 65 and older, as well as certain younger individuals with disabilities or specific medical conditions like End-Stage Renal Disease (ESRD) or ALS.

Medicare is divided into four parts:

• Part A: Covers hospital stays, skilled nursing care, and hospice.

• Part B: Covers doctor visits, outpatient care, and preventive services.

• Part C (Medicare Advantage): Private insurance plans that bundle Parts A and B, often including additional benefits.

• Part D: Covers prescription drugs.

Starting in 2025, Medicare will introduce a $2,000 cap on out-of-pocket costs for drugs covered by Part D. If you're considering enrolling, the Initial Enrollment Period begins three months before your 65th birthday and lasts seven months.