Medicare

Definition

A federal program that pays for certain health care expenses for people aged 65 or older. Enrolled individuals must pay deductibles and co-payments, but much of 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 four parts. Part A covers hospital bills, Part B covers doctor bills, Part C provides the option to choose from a package of health care plans, and Part D offers prescription drug coverage.

For further explanation, see Medicare vs.
Medicaid – How and When Each Can Help You
.

Use Medicare in a sentence

The majority of American doctors and hospitals must have a strong working knowledge of Medicare reimbursement policies as they are vital for their funding.

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You need to know how medicare works and decide how much help you want to offer to all of your workers.

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My grandmother was always concerned about medical expenses when she turned 65, but I always tried to remind her that she had the assistance she needed through MEDICARE.

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