Medicare is a fee-for-service health insurance program with two parts, where you pay a portion of the costs for covered services. There are also Medicare Savings Programs and State Medical Assistance programs that can help lower costs. Medicare is managed by the federal government and has two trust fund accounts, one for Hospital Insurance and one for supplementary medical insurance. It is important to check if your healthcare provider accepts Medicare to get the lowest cost. Part D, which covers prescription drugs, is financed by general revenues and beneficiary premiums. There is also a Medicare Premium Payment Program for beneficiaries with other health insurance and coordination of benefits rules apply in such cases.