Medicare is the national health insurance program for older adults and people with disabilities. It covers many basic health services including, but not limited to: inpatient hospital services, physician services, some home health care, prescription drugs, durable medical equipment and hospice. The program serves people aged 65 or older, individuals with disabilities under age 65, and people of any age with End-Stage Renal Disease (ESRD).
The Centers for Medicare & Medicaid Services (CMS) administers the program. Medicare is funded in great part by general revenues, payroll tax revenues, premiums paid by beneficiaries, and taxes on Social Security benefits.