Senior Health Discounts.com

Medicare can be really confusing, there can be a lot of pressure to make a choice quickly. Feel free to call us for a no cost consultation to review your options.

Fast Fact: As of 2021 workers pay 6.2% of their wages into Social Security on up to $142,800 of their income. Employers contribute another 6.2%. People who are self-employed have to pay both portions, or 12.4%.

A Medicare-approved amount is in Original Medicare, this is the amount a doctor or supplier that accepts assignment can be paid. It may be less than the actual amount a doctor or supplier charges. Medicare pays part of this amount and you’re responsible for the difference.

Do I Owe Taxes on Social Security? You might, depending on your income. In 2020 couples who file a joint tax return and have a combined income between $32,000 and $44,000 will have to pay tax on up to 50% of their benefits. If their combined income is more than $44,000, they’ll be taxed on up to 85% of their benefits.

Fast Fact: Your eligibility for Social Security is based on the credits you earn during your working years. As of 2021, for every $1,470 you make, you earn one credit, up to a maximum of four per year.