Medicare, a US-based federal health insurance program, provides healthcare services to people who are 65 and above. For Medicare to extend their health care services to you, you must meet specific eligibility criteria:
- You must be 65 or above
- People below 65 years and have End-Stage Renal Disease (ESRD)
- People under 65 having Social Security disability benefits
Medicare health care funding comes from your Social Security and Medicare taxes, as well as premiums paid by Medicare beneficiaries and the federal budget. Medicare health care plans are further subdivided into multiple plans that cover a wide range of needs, some paid for by the insured person.