How does health insurance work?
When you sign up for coverage, you join a group of other people to combine your healthcare purchasing power.
Government Sponsored Health Insurance
The federal government provides health insurance programs for certain populations.
Medicare Insurance
Medicare is health insurance for people who are 65 or older. It also includes people younger than 65 who have certain illnesses - such as permanent kidney failure - and those with certain disabilities.
Medicare includes:
- Part A: Hospital insurance
- Part B: Medical insurance - for doctor's visits
- Part C: Corporation-provided coverage, called Medicare Advantage
- Part D: Prescription drug coverage
Medicaid Insurance
As a counterpart to Medicare, Medicaid is health insurance for low-income people and families who meet specific requirements that can vary from state to state.
SCHIP
State Children's Health Insurance Plan (SCHIP) covers doctors, hospitals, emergency rooms, and immunizations. SCHIP is administered by each state using federal money, and covers uninsured children younger than 19 from low-income families.
Military Healthcare
Tricare is health insurance available to all active and retired members of the military and their families. The Department of Veterans Affairs offers additional medical care to retired military when needed. CHAMPVA (The Civilian Health and Medical Program of the Department of Veterans Affairs) is a health benefits program that helps retired military and their families.
Learn more about how Pharmacy Benefits work.
Watch Healthcare Video: How does health insurance work?
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