Medicare
A federal program that pays for certain health care expenses for people
age 65 or older. Enrolled individuals must pay deductiblesand
co-payments, but much their medical costs are covered by the program.
Medicare is less comprehensive than some
other health care programs, but it is an important source of
post-retirement health care. Medicare is divided into three parts. Part
A covers hospital bills, Part B covers doctor bills, and Part C
provides the option to choose from a package of health care plans.
Previous Insurance Term: Medical payments insurance
Next Insurance Term: MedPay
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