DEFINITION of 'Nonrenewable Resource'. A resource of economic value that cannot be readily replaced by natural means on a level equal to its consumption. Most fossil fuels, such as oil, natural gas and coal are considered nonrenewable resources in that their use is not sustainable because their formation takes billions of years.
Election-Enrollment in, or voluntary disenrollment from, an MMP, an MA plan or the traditional Medicare fee-for-service program (âOriginal Medicareâ) constitutes an election (disenrollment from Original Medicare would occur only when an individual enrolls in an MMP or MA plan).
Unlike Medigap insurance, Medicare Advantage (Medicare Part C) plans donât offer coverage to supplement Original Medicare. Instead, Medicare Part C plans are a private insurance alternative to the government program. With this option, you get all your Medicare Part A (hospital insurance) and Medicare Part B (medical insurance) coverage through the insurance company instead of directly through the government.