At what level is Medicare funded?

Medicare is a federally funded program, which means that its financing and administration come from the federal government. This program was established as part of the Social Security Act in 1965 and is aimed at providing health coverage primarily for individuals aged 65 and older, as well as certain younger individuals with disabilities or specific medical conditions.

The federal level funding allows for a standardized set of benefits across the United States, ensuring that the program is comprehensive and accessible to those who qualify, regardless of where they live. This centralized funding contrasts with state-level programs that may vary in terms of coverage and benefits, and local or private sector funding models that do not provide the same universal access that Medicare aims to achieve.