What Is Medicare?

By Robin Hartill, CFP – Updated Dec 17, 2024 at 9:42 AM

Key Points

Medicare is US health insurance for those 65+ and certain disabled people.
Original Medicare has 4 parts; A and B are automatic, C and D are optional.
Enroll in Medicare around your 65th birthday to avoid late penalties.

When you blow out the candles on your 65th birthday, you'll have extra reason to celebrate. For most people, Medicare eligibility begins at 65, although some people with certain disabilities qualify sooner. But Medicare is a complex federal health insurance program that can get confusing quickly. We'll walk you through the basics of how Medicare works.

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Medicare enrollment form. — Image source: Getty Images.

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Health Insurance Copayment

A fixed, predetermined amount that a person with health insurance pays out-of-pocket for covered services.

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About the Author

Robin Hartill, CFP, is a contributing writer at The Motley Fool. Robin’s work has also been published by Yahoo Finance, USA Today, and Penny Hoarder. She is a graduate of the University of Florida.

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