What is Medicare?

Medicare is the federal health insurance program available for people 65 or older and some individuals with disabilities and End-Stage Renal Disease (ESRD). Employers with Medicare-eligible individuals who are employed or have COBRA or other types of coverage should be aware of the potential cost impacts of Medicare on their workers. 
  
For example, individuals who wait to enroll in Medicare until later may end up paying higher premium costs even after they retire. This can also result in gaps in coverage. Benefits administrators should familiarize themselves with the implications of Medicare for current employees and retirees and ensure their employees are informed.