CHAPTER13

Medicare

In This Chapter

  • What is Medicare?
  • Who qualifies for the program?
  • How you apply for benefits
  • What Medicare insurance covers
  • How much does coverage cost?

Medicare is a somewhat complicated and often misunderstood federal health-care insurance program funded by two trust funds the U.S. Treasury holds: the Hospital Insurance (HI) Trust Fund and the Supplementary Medical Insurance (SMI) Trust Fund. The money in these funds comes from a variety of sources, including payroll taxes the majority of employers, employees, and the self-employed pay as well as income taxes paid on Social Security benefits, Medicare Part A premiums from ...

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