Elderly Medicare Program (Medicare Part A, Part B, Part C, and Part D)

Medicare generally provides health insurance coverage to those over age 65. The Medicare Trustees (2006) reported that Medicare covered 42.5 million individuals in 2005, 35.8 million of whom were over age 65. The elderly Medicare program has four “parts.” Medicare Part A essentially covers hospital, skilled nursing facility, and home health services, which are paid for by the payroll taxes earmarked for the Medicare program. Medicare Part B essentially covers physician services and durable medical equipment. (more…)