Which federally administered health insurance program covers costs of hospitalization and medical care for eligible persons?

The federally administered health insurance program that covers costs of hospitalization and medical care for eligible individuals is Medicare. This program primarily serves people aged 65 and older, but it also extends to younger individuals with specific disabilities or certain medical conditions, such as end-stage renal disease or amyotrophic lateral sclerosis (ALS).

Medicare is divided into several parts: Part A covers inpatient hospital stays, care in skilled nursing facilities, hospice care, and some home health care. Part B covers certain doctors' services, outpatient hospital care, durable medical equipment, and preventive services. This structure makes Medicare a comprehensive program addressing various healthcare needs of the eligible population.

In contrast, Medicaid is a state and federally funded program providing health coverage for low-income individuals and families, while the Children's Health Insurance Program (CHIP) specifically covers uninsured children in families with modest incomes that are too high to qualify for Medicaid. TriCare, on the other hand, is a healthcare program for military personnel and their dependents. Each of these programs has distinct qualifications and coverage areas, but Medicare is uniquely focused on older adults and certain disabled individuals for hospitalization and medical care costs.