Definition
It includes hospital, medical, private-plan, and prescription-drug coverage through different parts.
Political Dictionary
Medicare
Medicare is the federal health-insurance program primarily for older adults and certain disabled people.
Why It Matters
It is central to health care and federal spending for older Americans.
How It Works
Eligible people enroll in coverage, providers submit claims, and financing comes from payroll taxes, premiums, and general revenue.
History
Created in 1965, Medicare later expanded benefits and eligibility categories.
Example
A person turning sixty-five may enroll in Medicare hospital and medical coverage.
Common Misconceptions
- Medicare and Medicaid are the same.
- Medicare covers every medical cost.
- Only low-income people qualify.
Related Terms
- Medicaid
- Social Security
- Health Insurance
- Payroll Tax
- Federal Spending
Related Topics
See Also