Medicare is.

one of five programs under the Social Security System in which hospital and medical insurance coverage is provided to those who qualify. It is run by the Health Care Financing Administration, although the Social Security Administration takes applications for Medicare, assists beneficiaries in claiming Medicare payments, and provides information about the program. Medicare is a basic health insurance program that covers people who are 65 years old or older, people of any age with permanent kidney failure, and certain disabled people, regardless of their age.

See also other Tax Terms and Definitions in U.S.A.

Medicare Hospital Insurance; Medicare Medical Insurance.

See Health Care Reform.

Description and Definition of Medicare

The Medicare program is the federal health insurance program for people over 65. The Medicare tax is 1.45% for both employees and employers and 2.9% for self-employed taxpayers. The Medicare tax applies to all wages and self-employment income.


See Also

Further Reading






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