Medicare
Definition of 'Medicare'A U.S. federal health program that subsidizes people who meet one of the following criteria:1. An individual over the age of 65 who has been a U.S. citizen or permanent legal resident for five years. 2. An individual who is disabled and has collected Social Security for a minimum of two years. 3. An individual who is undergoing dialysis for kidney failure or who is in need of a kidney transplant. 4. An individual who has Amyotrophic Lateral Sclerosis (Lou Gehrig's disease). Medicare helps out people at a time in their lives when they may have serious health problems but lack the funding for treatment. |
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Investopedia explains 'Medicare'Medicare is divided into two parts. The first part of the coverage encompasses in-patient hospital, skilled nursing facility, home health and hospice care. The second part of coverage encompasses almost all the necessary medical services (doctors' services, laboratory and x-ray services, wheelchairs, etc). |
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