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The Complete Idiot's Guide to Economics, 2nd Edition by Tom Gorman

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The U.S. Approach

The United States employs a far more market-based approach to funding health care than any other developed economy. Its two major public programs are Medicare, the federal program for people 65 and over or disabled under Social Security guidelines, and Medicaid, the state-run (but largely federally funded) program for people under 65 who qualify due to family circumstances or disability. A third, smaller initiative is the Children’s Health Insurance Program (CHIP), which helps states insure low-income children who are ineligible for Medicaid but cannot afford private insurance.
Medicare is an entitlement program, meaning that the contributions people make to the insurance fund through payroll taxes entitle them to benefits ...

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