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).
U.S. federal health program that subsidizes people who meet one of the following criteria:
- An individual over the age of 65 who has been a U.S. citizen or permanent legal resident for five years.
- An individual who is disabled and has collected Social Security for a minimum of two years.
- An individual who is undergoing dialysis for kidney failure or who is in need of a kidney transplant.
- 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.
Source: investopedia.com