What is the role of the Centers for Medicare and Medicaid Services (CMS)?

The role of the Centers for Medicare and Medicaid Services (CMS) primarily includes administering the federal health insurance program known as Medicare. Medicare is designed to provide health coverage to individuals aged 65 and older, as well as to certain younger individuals with disabilities. CMS is responsible for ensuring that the program operates efficiently and effectively, overseeing the implementation of Medicare policies, and managing payment systems for healthcare providers.

In administering Medicare, CMS sets eligibility guidelines, determines policy for benefits and services covered, and establishes payment rates for providers who deliver care to Medicare beneficiaries. This agency also plays a critical role in monitoring the quality of care provided under Medicare and addressing issues related to fraud and abuse within the system.

The other options do not accurately reflect the primary functions of CMS. For example, while CMS may have influence in areas related to healthcare financing and regulation, it does not manage private insurance companies directly. Additionally, while CMS does oversee certain funding and support programs within the healthcare system, it is not specifically tasked with providing funding for hospital construction. Setting rates for outpatient procedures may fall under the capabilities of CMS, but it is part of the broader responsibility of administering Medicare rather than a standalone function. Thus, the most accurate representation of CMS's role is its administration of the Medicare program