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by hobitavsiye

What is Medicare?

Before we delve into the question of whether or not you need to sign up for Medicare while you are still working, it is important to understand what Medicare is and how it works.

Medicare is a federal health insurance program that provides coverage to people who are 65 or older, as well as certain younger people with disabilities. It is administered by the Centers for Medicare and Medicaid Services (CMS).

There are four parts to Medicare: Part A, Part B, Part C, and Part D. Here is a brief overview of each part:

  • Part A: This part covers inpatient hospital stays, skilled nursing facility care, hospice care, and some home health care services. Most people do not have to pay a premium for Part A coverage because they or their spouse paid Medicare taxes while working.
  • Part B: This part covers outpatient medical services, such as doctor visits, lab tests, and preventive services. Most people pay a premium for Part B coverage.
  • Part C: This part, also known as Medicare Advantage, is an alternative to traditional Medicare. It is offered by private insurance companies and includes all the benefits of Part A and Part B, as well as additional coverage such as prescription drugs and vision and dental care. Medicare Advantage plans may have lower out-of-pocket costs and more flexible coverage options than traditional Medicare, but they also may have more limited provider networks.
  • Part D: This part covers prescription drugs. It is offered by private insurance companies and can be added to traditional Medicare or a Medicare Advantage plan.


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