Terms to know in health care debate

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.