Final answer:
Medicare is a federal health insurance program that provides coverage for individuals who are 65 years old and older. It consists of four parts: Part A, Part B, Part C, and Part D. Medicare is funded through a combination of payroll taxes, beneficiary premiums, and general revenues.
Step-by-step explanation:
Medicare is a federal health insurance program that provides coverage for individuals who are 65 years old and older. It helps them meet their primary medical care needs. Medicare consists of four parts: Part A covers hospital charges, Part B covers physician services and outpatient visits, Part C is a private plan option, and Part D covers prescription drug benefits. Medicare is funded through a combination of payroll taxes, beneficiary premiums, and general revenues.