Which federal health insurance program is designed for individuals aged 65 or older?

The correct answer is Medicare. This federal health insurance program is specifically designed to provide health coverage for individuals aged 65 and older, as well as certain younger people with disabilities or specific diseases. Medicare plays a crucial role in ensuring that older adults have access to necessary medical services, which can include hospital care, outpatient services, preventive care, and sometimes prescription drug coverage.

Medicaid, on the other hand, is a program that assists low-income individuals and families, regardless of age, with healthcare costs. The Children’s Health Insurance Program (CHIP) focuses on providing health insurance for children in families that earn too much to qualify for Medicaid but still may not be able to afford private coverage. Medicare supplement plans are additional insurance policies that can help cover some of the costs not covered by Medicare, but they are not standalone programs intended for those aged 65 or older.

Understanding the structure and purpose of these programs is essential for navigating health insurance options and ensuring individuals receive the correct benefits suited to their needs.