Medicare is the Federal health insurance program for those aged over 65 years of age. Also covered by Medicare are some disabled and those with end-of stage renal disease (ESRD). You should enroll for Medicare when you first become eligible. There is a late enrollment penalty for those who are late. If you are already have health insurance talk to the benefits administrator about whether or not it is wise to join Medicare or not while still under coverage.

The Original Medicare Plan is a fee for service plan managed by the Federal Government. It pays for many services and supplies but will not cover all your health care costs.

The four parts of Medicare are

• Part A – Hospital Insurance
• Part B – Medical Insurance
• Part C – Medical Advantage-The option of receiving benefits of Parts A, B, D through a private health plan (i.e. HMO, PPO)
• * Part D – Prescription Drug Coverage

Most will not pay a premium for Part A; there are monthly premiums for Part B (around $95 a month, those with incomes over $80,000 pays more). There is usually a premium for Part D and those are higher the longer you wait to enroll. Once you have past the first window of eligibility you will have to wait for the annual enrollment period (Nov 15 – Dec 31).

For more information on Medicare and Medicare prescription drug coverage, contact the Centers for Medicare & Medicaid Services. Log onto their Web site at http://www.medicare.gov or call 1-800-MEDICARE

(1-800-633-4227).