Medicare

Medicare is the federal health insurance program primarily for people aged 65 and older, as well as certain younger people with disabilities. It is divided into four parts: Part A (hospital), Part B (medical), Part C (Medicare Advantage), and Part D (prescription drugs).

Structural wealth gaps mean Black Medicare beneficiaries are less likely to afford supplemental (Medigap) coverage for out-of-pocket costs, and are more likely to face financial hardship from healthcare expenses even with Medicare coverage.

Enrollment: People approaching 65 should enroll during the seven-month Initial Enrollment Period around their birthday. Late enrollment penalties apply.