What You Need to Know About Medicare

Medicare is a social insurance program administered by the United States government. It is set up as a single payer health care system which means that all service providers such as doctors, labs, hospitals, therapists etc, get paid from one central fund. In this case, that fund would be administered by the Social Security Administration under the supervision of the Centers for Medicare and Medicaid Services. Medicare is funded through imposed payroll and income taxes. (more…)