Question

What is Medicare Part B also known as ___________.

1) Medicare supplement
2) Supplementary medical insurance
3) Comprehensive insurance
4) Medicaid

Answer 1

Medicare Part B is known as Supplementary Medical Insurance and covers costs outside of hospital stays, with beneficiaries paying premiums and the government contributing significantly to the costs.

Step-by-step explanation:

Medicare Part B is also known as Supplementary Medical Insurance. It is an optional insurance program that covers healthcare costs outside of hospital stays, such as services provided by physicians, medical tests, and outpatient visits. Beneficiaries of Part B pay a monthly premium, deductibles, and copayments, with approximately three-fourths of the costs being covered by the government. The formation of Medicare in 1965 aimed to help citizens aged 65 and older with their primary medical care needs, covering services that are not included under Part A, which is primarily for hospital stays and is funded by payroll deductions.