What Is Medicare And What Does It Do? 
Medicare is a federal government-run health insurance program for individuals age 65 and older -LRB- and those on disability or have end-stage renal disease who are under age 65 -RRB- . It 's made up of 4 parts : 1 -RRB- Medicare Part A - this is your hospital insurance 2 -RRB- Medicare Part B - this is your physician insurance 3 -RRB- Medicare Part C - also known as Medicare Advantage . This coverage is sold by private insurance companies and provides benefits equal to or greater than those provided by Medicare Part A and Part B . Some carriers offer prescription drug coverage with a Medicare Advantage plan 4 -RRB- Medicare Part D - this is your stand-alone prescription drug plan . This is also sold by private insurance companies and can be used with Medicare Parts A & B . Many individuals add a Medicare supplement plan to their Part A & B coverage to cover expenses Medicare does n't cover . 