Medicare is best described as which type of insurance?

• A. Private employer-based insurance
• B. Health savings account
• C. Insurance for people over 65 or chronically disabled
• D. State-run Medicaid

Answer: (C)

Medicare is a federal health insurance program designed primarily for people aged 65 and older, and for younger individuals who have certain disabilities. It isn’t private employer-based insurance, nor a health savings account, nor Medicaid (which is a needs-based program for low-income individuals). Funded by payroll taxes and beneficiary premiums, Medicare provides coverage through its parts that address hospital care, medical services, and prescription drugs. This focus on eligibility by age (or disability) and its status as a government program is what makes the description of Medicare as insurance for people over 65 or chronically disabled the best fit.