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Medicare

Overview#

Medicare is a single-payer, national social insurance program administered by the Centers for Medicare and Medicaid Services (CMS) since 1966 using various private insurance companies across the United States under contract for administration.

Medicare eligibility and status is determined by the United States Social Security Administration.

Medicare is funded by a Payroll Tax, premiums and surtaxes from beneficiaries, and general revenue. Medicare provides health insurance for Americans aged 65 and older who have worked and paid into the system through the Payroll Tax.

More Information#

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