Medicare - Definition of Medicare

An entitlement program of health insurance for the elderly and for qualified disabled persons enacted in 1965. Part A, or hospital insurance, usually is earned through employment covered by Social Security. Part B, or supplementary medical insurance, is elected and paid for through a heavily subsidized premium. Covered services include inpatient hospital care, hospital outpatient services, skilled nursing facility care, home health care, physicians’ (including psychiatrists’) services, laboratory and other diagnostic tests, and hospice care.

The hospital insurance system and the supplementary medical insurance for the aged and certain categories of disabled created by the 1965 amendments to the Social Security Act. The insurance, Parts A and B, provides the same hospital benefits in general hospitals for psychiatric conditions as for other conditions but limits benefits in psychiatric hospitals to 190 days during a lifetime.

Originally established in 1966, is a federally financed health insurance program for persons 65 years of age and older and others who are in special categories. The basic plan, Part A (Title XVIII of the Social Security Act) provides for payment for hospitalization up to 90 days but the person must pay a deductible. Hospital costs are provided for another 60 days, but the person must pay a fixed amount for each of the 40 days of additional hospitalization pays the cost of home care up to 100 visits and posthospital care for 20 days, in addition to 80 days copayment. Part B provides medical care as well as various types of therapy. The insured must pay a premium for this coverage, Medicaid.

A nationwide health insurance program for people aged 65 and over, for persons eligible for social security disability payments for over two years, and for certain workers and their dependents who need kidney transplantation or dialysis. Health insurance protection is available to insured persons without regard to income. Monies from payroll taxes and premiums from beneficiaries are deposited in special trust funds for use in meeting the expenses incurred by the insured. The program was enacted July 30, 1965, as title XVIII—Health Insurance for the Aged—of the Social Security Act, and became effective on July 1, 1966. It consists of two separate but coordinated programs: hospital insurance (Part A), and supplementary medical insurance (Part B).

A system of public health insurance in the US.

The federal program which provides health care to persons 65 years of age and older and to others entitled to Social Security benefits. Medicare is administered at the federal level, as contrasted with Medicaid, which is administered by the states. Medicare was established in 1965 by amendment to the Social Security Act, the pertinent section of the amendment being “Title XVIII—Health Insurance for the Aged.”

Federally administered system of health insurance, available to persons aged 65 and over, whether working or retired. Part A, Hospital Insurance, provides some protection against the costs of hospitalization, certain related inpatient institutional care, and home care. Part B, Supplementary Medical Insurance, in return for payment of a monthly fee that is adjusted annually, covers part of physicians’ and surgeons’ fees and certain other services (e.g., X ray and laboratory tests, radiotherapy, and medical equipment used at home, such as an oxygen tent or wheelchair). Although Medicare is unquestionably helpful, many elderly persons consider it advisable to have private health insurance as well.

A federal health insurance program for people over 65. Every American over age 65 is eligible for Medicare, regardless of income or assets. To receive Medicare, older adults file an enrollment application with the local Social Security office as they near age 65. Medicare covers much of the cost of inpatient hospital care, skilled nursing facility care, some forms of home health care, and hospice care. However, strict conditions must be met. Recently Medicare added a new program, Part D, that provides drug coverage for enrollees.

A national program of health insurance for aged persons in the US. The program was authorized under terms of a 1965 amendment to the US Social Security Act. Medicare benefits include inpatient hospital services up to 90 days during any serious illness, psychiatric inpatient services up to 190 days per lifetime, posthospital extended care services up to 100 days during any spell of illness, posthospital home health-care services up to 100 visits per year, and hospital outpatient services. Supplemental medical insurance benefits are available under a voluntary insurance program to which the patient or his family contributes a monthly premium payment, which is adjusted every two years to reflect current costs of the program.

A health insurance scheme in the United States, managed by the federal government, that provides cover for Americans over the age of 65 who have certain disabilities.

In the U.S., a federally sponsored health insurance program for people over age 65, some younger disabled persons, and persons with end-stage renal disease. American Medicare consists of four parts. Medicare Part A provides hospital insurance. Part B (an option some participants choose to purchase) provides general medical insurance. Part C provides health plan choices to beneficiaries who choose to pay for this option. Part D provides a drug benefit. In the U.S., Medicare also administers its own managed care plan. In Canada, Medicare is administered by the provinces.

A healthcare program available to people who are 65 years old or older and for younger individuals who are disabled.

Any drug used to cure, prevent, or treat illness or discomfort.

A pigment that gives skin its color and shields skin from ultraviolet radiation.

A federally financed insurance program for elderly people and for younger people who are disabled or have chronic kidney disease.

A comprehensive national health insurance initiative, financed by the federal government of the United States, established under Title XVIII of the Social Security Act, specifically catering to individuals aged 65 and above, encompassing the entirety of the populace within that age bracket.