Medicare 65+

In the United States, Medicare is a federal social insurance program, administered by the U.S. federal government since 1966, currently using about 30 private insurance companies across the United States. Medicare guarantees access to health insurance for Americans aged 65 and older who have worked and paid into the system, younger people with disabilities, people with end stage renal disease and people with amyotrophic lateral sclerosis. As a social insurance program, Medicare spreads the financial risk associated with illness across society, even to people who cannot use it and may never want it or use it, and thus has a different social role from private insurance, which involves a risk portfolio (underwriting) and adjusts premiums according to perceived risk.

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