Number: 94-28 Title: Social Security and Medicare Taxes and Premiums: Fact Sheet Authors: Dawn Nuschler, Domestic Social Policy Division Abstract: Financing for social security-Old Age, Survivors, and Disability Insurance--and the Hospital Insurance part of Medicare is provided primarily by taxes levied on wages and net self-employment income. Financing for the Supplementary Medical Insurance portion of Medicare is provided by premiums from enrollees and payments from the government. This report describes these taxes and premiums. Pages: 2 Date: January 13, 2004