Medicare is a federal health insurance program for people over 65 and certain disabled individuals. It was created in 1965 and helps people regardless of income or medical history. There are 4 main benefits: Part A covers hospital stays; Part B covers medical services; Part C provides Medicare Advantage plans; and Part D covers prescription drugs. The biggest issue is rising healthcare costs as the number of taxpayers decreases, so strategies to reduce costs include raising the eligibility age or premiums.