Final answer:
Part B is an optional health insurance program covering costs for medical services outside hospital stays, including physician services, medical tests, and outpatient visits, with participants paying monthly fees, deductibles, and copayments, while the government contributes three-fourths of the costs.
Step-by-step explanation:
Medtronic offers health insurance options that are designed to help cover the costs of healthcare services outside of hospital stays. One such option is Part B, which is an optional insurance program. This program covers various medical-related expenses including physician services, medical tests, and outpatient visits.
Those who choose to participate in this program are required to pay a monthly fee, meet deductible charges, and make copayments for services. Importantly, the government also plays a significant role by contributing approximately three-fourths of the overall costs associated with this insurance option.