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Terms to know in health care debate

By Kyle Ratliff, News Editor

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As you follow the health care debate, you’re bound to run into some phrases that you aren’t quite sure about. Below are some of these terms with the definitions:

GDP:  Gross Domestic Product, the total market value of all the goods and services produced by a nation in one year.

Medicare:  A health insurance program provided by the government that pays for people 65 and over.

Premium:  Payment to have health care.

Public Option:  A government-run insurance plan intended to promote competition and keep prices low and quality high.

Single-Payer System:  A financing mechanism in which the government would collect all health care fees and pay out health care costs.

Socialized:  Run by the government.

Surtax:  A tax levied on top of the normal tax rate.

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Terms to know in health care debate