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).
Medicaid is not the same as Medicare. Medicare is a federal program that provides health coverage if you are 65 or older or have a severe , no matter your income. Medicaid is a state and federal program that provides health coverage if you have a very low income. If you are eligible for both Medicare and Medicaid (), you can have both.