What is Medicare?
Medicare is health insurance for people age 65 and older, people who are under age 65 that have certain disabilities and people any age who have End Stage Renal Disease (ESRD), or permanent kidney failure requiring dialysis or kidney transplant. Medicare consists of four parts, which include Medicare Part A, Medicare Part B, Medicare Part C and Medicare Part D.
Medicare was never designed to cover 100% of one’s medical cost. Both Medicare Parts A & B have cost sharing that can literally reach into the tens of thousands of dollars. It is for this reason that private insurance such at Medicare Supplement, Medicare Part D and Medicare Advantage is recommended to protect you from these out of pocket costs.