Medicare

Definition

Medicare is a government-funded health insurance program in the United States that provides coverage for people who are 65 years old or older, as well as certain younger individuals with disabilities.

Related terms

Medicaid: A government program that provides healthcare coverage for low-income individuals and families.

Health insurance: A contract between an individual and an insurance company that provides financial protection against medical expenses.

Affordable Care Act (ACA): Also known as Obamacare, it is a law enacted in the United States to improve access to affordable health insurance options.