Part A of the Medicare program (Hospital Insurance)is financed primarily by
A)A monthly premium
B)A 2.9% tax levied on wages and salaries
C)An allocation from general tax revenues
D)User fees paid by patients
E)Insurance deductibles

Question

Quizplus · Accepted Answer

Part A of the Medicare program (Hospital Insurance) is financed primarily by a 2.9% tax levied on wages and salaries. This tax is split between employers and employees, with each contributing 1.45%. This tax revenue is used to help cover the cost of inpatient hospital care, skilled nursing care, hospice care, and some home health care services for eligible beneficiaries.

Part a of the Medicare Program (Hospital Insurance)is Financed Primarily