Medicare


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Related to Medicare: Medicaid, Medicare and Medicaid

Medicare

 [med´ĭ-kar]
a program of the Social Security Administration which provides funding for medical care to the aged and to certain others.

Medicare

also

medicare

(mĕd′ĭ-kâr′)
n.
A program under the US Social Security Administration that reimburses hospitals and physicians for medical care provided to qualifying people over 65 years old.

Medicare

A national (USA) social insurance program, administered by the federal government since 1965, that guarantees access to health insurance for Americans ages 65 and older, younger people with disabilities, and people with end stage renal disease.

Components of Medicare
▪ Part A: Hospitalisation insurance—Financed by contributions from employers, employees and participants.
▪ Part B: Medical insurance—Covers outpatient services, financed in part by monthly premiums paid by enrollees and by the federal government.
▪ Part C: Medicare Advantage Plans—Allows Medicare beneficiaries the option of receiving their benefits through private health insurance plans, instead of through the original Medicare plan.
▪ Part D: Prescription Drug Plans—Not standardised and can be tailored to individual needs.

Medicare

Managed Care A federal program run by HCFA/CMS that provides hospital and medical insurance protection for a significant minority in the US Components-Part A Compulsory hospitalization insurance, financed by contributions from employers, employees, and participants; Part B Voluntary supplementary medical insurance, which covers outpatient services, financed in part by monthly premiums paid by enrollees and by the federal government. See HCFA, HMO, Part A, Part B. Cf Medicaid, Socialized medicine.

Med·i·care

(med'i-kār)
1. A national health insurance plan managed by the U.S. government that covers Social Security and Railroad Retirement beneficiaries age 65 years and older, people who have been entitled for at least 24 months to receive Social Security or Railroad Retirement disability benefits, and some people with end-stage renal disease; established in 1965 by an amendment to the Social Security Act.
Compare: Medicaid
2. The universal public health insurance system of Canada, administered by the provincial governments under guidelines set by the Canadian federal government; initiated under the Canada Health Act in 1984.
3. A national public health insurance system in Australia; provides for free care in public hospitals, and free or subsidized care in clinical settings for certain conditions; established in 1984.

Med·i·care

(med'i-kār)
1. A national health insurance plan managed by the U.S. government that covers Social Security and Railroad Retirement beneficiaries age 65 years and older, people who have been entitled for at least 24 months to receive Social Security or Railroad Retirement disability benefits, and some people with end-stage renal disease; established in 1965 by an amendment to the Social Security Act.
Compare: Medicaid
2. The universal public health insurance system of Canada, administered by the provincial governments under guidelines set by the Canadian federal government; initiated under the Canada Health Act in 1984.
3. A national public health insurance system in Australia; provides for free care in public hospitals, and free or subsidized care in clinical settings for certain conditions; established in 1984.
References in periodicals archive ?
Social Security and Medicare have a few things in common.
Of course, any change that makes Medicare different, or more confusing, will give agents, brokers, financial planners and others a chance to explain the new system.
Can I Opt Out of Medicare in My Office But Still Participate in Medicare in Other Situations?
For family physician Andrew Merritt of Marcellus, N.Y., the decision not to accept new Medicare patients made sense 15 years ago and still does today.
More information on Medicare is available through numerous sources:
What costs will you incur if you choose a Medicare Advantage plan?
Medicare defines these settlements, judgments, awards or other payments as Total Payment Obligation to Claimants.
Now the Medicare Improvements for Patients and Providers Act of 2008 (MIPPA) is causing carriers to rush toward the exits.
Medicare, on the other hand, is something we all pay for--during our working years and after we retire.
Because Medicare Advantage plans often cover more things than Original Medicare, there's no need for a Medigap policy to supplement it.
Ironically, if politicians want to look to Medicare as the healthcare design of the future, they should look no further than the fastest growing part of Medicare: Medicare Advantage.