Medicare Basics:

Who Qualifies for Medicare: People age 65 or older Certain disabled people younger than age 65 People of any age with permanent kidney failure People of any age with ALS (Lou Gehrig’s Disease) Medicare is a nationwide health insurance program administered by the Social Security Administration for individuals age 65 and older and certain disabled people. Congress established the program in 1965. In spite of popular misconceptions, Medicare is not a universal health insurance program for elders. The program is only available if you are age 65 years or older and have contributed to the Social Security System for a minimum of 10 years, or if you bought into Medicare. Although Medicare is a federal program, private insurance companies (intermediaries) actually administer it under the direction of the Centers for Medicare and Medicaid Services (CMS). Medicare is neither a comprehensive health care plan, nor is it free of cost. In fact, Medicare only provides you with basic health insurance coverage. As a beneficiary, you are responsible for deductibles, insurance co-payments and payment of services not covered. Approximately 80 percent of doctors and limited-license practitioners in the U.S. participate in Medicare. To help control escalating medical costs, the program has established a national fee schedule for medical procedures performed. Medicare will only cover medically-necessary services for illnesses and injuries.