HEALTH CARE TERMS

Medicare provides government assistant insurance for individuals 65 and older or those individuals who meet specialized criteria. Created in 1965 as part of the Social Security act and managed by the Medicaid and Medicare service center. Medicare is a federally funded program with rules, regulations, and eligibility that must comply with federal government guidelines. Finance for Medicare derives from payroll taxes, government revenues, and premiums paid by the beneficiaries.

Medicaid the largest health insurer in North America, covering medical expenses and long-term care for elderly, low income, blind, people receiving public assistance, and the poor. In 2001, Medicaid made up almost 16% of total national health expenditures; in 1966, the percentage was only 2.9% (Centers for Medicare & Medicaid Services 2004). Funded by taxpayers,’ income tax payments to the government’s general revenue. These revenues are allocated by Congress to various national needs, such as health care.Medicaid i