Healthcare can be a large financial expense, and one that can be difficult to plan for. Anyone that relies on Medicare should be aware of what is covered and what is not. While Medicare is extensive in coverage, it does not cover everything and is not free. There are premiums, deductibles, co-payments and prescription drug costs, and they can be significant. Premiums Medicare provides health insurance for Americans aged 65 or older who have worked and paid into the system through payroll tax. It also provides health insurance to younger individuals with a disability status as determined by the Social Security Administration, as well as people with certain terminal illnesses.
