Which government program provides health insurance for individuals aged 65 and older?

Medicare is the government program specifically designed to provide health insurance for individuals who are aged 65 and older. It primarily serves seniors, although it is also available to certain younger individuals with disabilities and those with specific medical conditions, such as End-Stage Renal Disease or Amyotrophic Lateral Sclerosis (ALS). This program helps cover a wide range of healthcare services, including hospital care, outpatient care, preventive services, and prescription drug coverage.

In contrast, Medicaid is a program that provides health coverage for low-income individuals and families, and it is not limited to seniors. CHIP, or the Children's Health Insurance Program, offers health insurance to children in families with incomes too high to qualify for Medicaid but too low to afford private coverage. Health Savings Accounts (HSAs) are tax-advantaged accounts that allow individuals to save for medical expenses; they are not a health insurance program in themselves.

Understanding the specific focus of each program is crucial for distinguishing among them, particularly in preparing for exams related to health insurance.