DanielV01
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Medicare is provided to those who draw Social Security Income by the Federal Government. There are three parts:  Part A, Part B, and Part D (Part C is a combination of Parts B and D provided through private insurers).  Part A, which covers hospitalization, is provided to all Medicare-eligible Social Security recipients.  While there are no premiums associated with Part A, there are out-of-pocket costs for services.  Part B is the “medical insurance” portion of Medicare and covers doctor’s visits, treatments, etc.  For Part B, there is a monthly premium automatically deducted from the eligible recipient’s monthly check if they opt to have it.  (Most do).  There are also copays and other costs to the patient.  Part D covers prescriptions, and has an additional premium, as well as out-of-pocket costs.

Medicaid is state-provided insurance.  It is granted to lower-income families in states that have a Medicaid program.  (Obamacare legislated expansion of Medicaid to include low-income adults, as most states had some kind of Medicaid program for minors.  Not all states adopted the legislation.)

HDHP Insurance stands for “High-Deductible Health Plan”.  It is private insurance.  As the name suggests, those who obtain a High-Deductible Health Plan pay higher deductibles for their insurance, but typically lower monthly premiums.  Also, HDHP Insurance qualifies the policyholder to have a Health Savings Account (HSA), which can have many tax advantages.  Please note the following FAQ’s for more information:

https://ttlc.intuit.com/replies/4787500

https://ttlc.intuit.com/replies/3300505

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