This report discusses medicare expansion; President Clinton's proposal to allow people ages 62 through 64 to buy into Medicare if they do not have access to employer-sponsored or federal health insurance.
Date: March 31, 1998
Creator: Lyke, Bob; Fuchs, Beth C; O'Sullivan, Jennifer & Smith, Madeleine T
This report discusses Medicare, which consists of two distinct parts — Part A (Hospital Insurance (HI)) and Part B (Supplementary Medical Insurance (SMI)). Part A is financed primarily through payroll taxes levied on current workers and their employers. Income from these taxes is credited to the HI trust fund. Part B is financed through a combination of monthly premiums paid by current enrollees and general revenues. Income from these sources is credited to the SMI trust fund.