Original Medicare (Parts A and B)
Medicare was established in 1965 as part of Social Security, and began providing benefits to older adults in 1966. Parts A and B are the fundamental components of Original Medicare. Original Medicare is a fee-for-service program, meaning you pay for services as you receive them.
Medicare Part A primarily covers inpatient hospital stays, skilled nursing facility care, hospice care, and some home health. Most people don't pay a monthly premium for Part A if they or their spouse have worked and paid Medicare taxes for a certain period.
Medicare Part B covers most other medical expenses, similar to medical insurance. Services covered include doctors' services, outpatient care, medical supplies, and preventive services. Part B typically requires a monthly premium.
While Parts A and B cover a wide range of services, they don't cover everything. For example, they don't typically cover routine dental, vision, or hearing care. There are out of pocket costs associated with both Part A and Part B, including deductibles and coinsurance.
Medicare was designed to serve primarily people aged 65 or older, or people with certain medical conditions. Individuals who have received Social Security Disability Insurance (SSDI) benefits for 24 months, people with ALS (or Lou Gehrig's disease), people with End-Stage Renal Disease (ESRD) who require dialysis or a kidney transplant due to permanent kidney failure, may also receive Medicare.
For the most accurate and up-to-date information, please visit Medicare.gov (the official U.S. government website) or the Social Security Administration, who handles Medicare enrollment.
