Definition
The federal health insurance program for people age 65 and older, certain younger people with disabilities, and people with End-Stage Renal Disease. Medicare has four parts: Part A (hospital), Part B (medical), Part C (Medicare Advantage), and Part D (prescriptions). Part A is usually premium-free; Part B costs about $175/month.
Related Terms
- Deductible
The amount you must pay out of pocket for covered healthcare services before you...
- Copay
A fixed amount you pay for a covered healthcare service after you have met your ...
- Coinsurance
Your share of the costs of a covered healthcare service, calculated as a percent...
- Out-of-Pocket Maximum
The most you have to pay for covered services in a plan year. After you spend th...
- Premium
The amount you pay each month for your health insurance coverage, regardless of ...
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