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Medicare:
Medicare finances part of the care of the elderly (those eligible for Social
Security), some of the permanently and totally disabled, and most people
with end stage renal disease (kidney failure). It is a federal program. It
is funded through payroll taxes (Part A), general tax revenue and premiums
(Part B) and beneficiary cost sharing. Medicaid: This is a
federally sponsored and state administered program that pays for health care
services for the indigent. Subject to broad federal guidelines, the states
have considerable discretion in determining who is eligible for the program,
what services and providers will be covered, and how much they will pay, to
providers for rendering care.
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