SOCIAL SECURITY AND Medicare are social safety programs that Americans pay into during their working years through taxes. Both are designed to assist older Americans and distribute benefits to the disabled and their families. Social Security provides financial support, and Medicare is a health insurance program that helps cover doctor visits, hospital stays and other medical treatments.
While the programs are separate, Social Security and Medicare are intertwined in several ways. Here, we look at the connections between the two programs as well as what to expect when applying for benefits.
Eligibility for Social Security and Medicare
Both Social Security and Medicare are national programs managed by different organizations within the federal government. “Social Security is run by the Social Security Administration, whereas Medicare is run by the Centers for Medicare and Medicaid Services,” says Andy Panko, an IRS enrolled agent and certified financial planner at Tenon Financial in Iselin, New Jersey.