What is Medicare?
The Bankrate.com financial term of the day is: "Medicare."
Medicare is the government health insurance program that older Americans depend on. Eligibility typically begins at age 65, though the program also covers younger people with certain disabilities or severe kidney disease.
To know Medicare is to know the ABCs. There's Medicare Part A for hospital and nursing care; Part B, which helps with the cost of doctor visits and preventive health services; Part C, also known as Medicare Advantage, offering benefits through private insurers; and Part D for prescription drugs. Medicare is often confused with Medicaid, the health care program for the poor that was launched as part of the same 1965 law as Medicare.
Medicare is Uncle Sam's way of looking out for seniors when they get sick.
To shop for insurance to fit your needs, visit the Insurance section at Bankrate.com.