Medicare is a publicly funded health insurance program primarily for individuals aged 65 and older, as well as younger people with certain disabilities or conditions. Established in 1965, it is part of the United States government-operated healthcare system managed by the Centers for Medicare & Medicaid Services (CMS). While it does not have a parent company, Medicare operates under the U.S. Department of Health and Human Services. The program consists of different parts: Part A covers hospital stays, Part B covers medical services, Part C (Medicare Advantage) offers an alternative way to receive Medicare benefits through private insurers, and Part D provides prescription drug coverage. Medicare ensures access to affordable healthcare for millions of Americans, including preventive services, inpatient and outpatient care, and more.