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That depends on what kind of coverage you elect.

Medicare Part A (hospitalization) is paid out of the FICA contributions you made during your working years, so there is no cost to you when you retire or become disabled.

Medicare Part B (government-administered outpatient, doctors' visits, etc.) costs $110.50 per month in 2010 and 2011, orMedicare Part C (Medicare Advantage Plans, run by private insurance companies) costs $110.50 and up. Medicare beneficiaries may choose either Part B or Part C or neither, but not both.

Medicare Part D (government-subsidized drug benefit) costs vary from less than $20 per month to $130 per month or more, depending on coverage offered. Many Medicare Advantage Plans provide at least some drug coverage.

If you decide to carry Medicare Parts B, C, or D, the monthly premium(s) is/are deducted from your benefit check. Many low-income individuals qualify for government subsidies to pay part or all of Parts B and D coverage.

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Q: Do you pay Medicare on Social Security?
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Related questions

What percentage of income do employees pay in social security and Medicare taxes?

Social security: 6.2%


Can your employer pay for my medicare premium?

can my employer pay my medicare premium instead of taking it out of social security


FICA includes taxes to pay for?

Social security and medicare


What year was it voted to pay medicare out of social security?

Medicare is not paid out of Social Security. The two are funded by different payroll taxes.


Do all workers pay social security and medicare?

A few public employees do not pay FICA/Medicare, but that number is decreasing.


FICA includes taxes to pay for what?

A. Social Security and Medicare E2020


What is deducted from a workers pay check to fund social security and medicare?

In most years, your employer will deduct the following from your paycheck: Social Security: 6.2% of your gross pay Medicare: 1.45% of your gross pay However, in 2011 Obama signed into a law a "payroll tax holiday" as part of the continued effort to stimulate the economy. For 2011 only, the social security tax coming out of your paycheck is 4.2% instead of 6.2%, meaning that this year you will take home more money than you would in a "normal" year. Your employer matches these amounts too -- they pay another 6.2% for social security, and another 1.45% for Medicare. Under the payroll tax holiday, only your portion of social security is reduced to 4.2% -- your employer is still paying 6.2% of your pay into social security for you.


Can a teacher get medicare if she did not pay into social security?

ring up the bank or something


Will social security pay for long term care?

Social Security doesn't pay for any medical care. Medicare will pay for group care for a limited period when necessary for rehabilitation.


If you accept Medicare do you not get your social security?

Acceptance of Medicare has no effect on your eligibility for Social Security.


Is medicare both paid by employees and employer?

Yes each pay the 7.65% of the social security and medicare tax amount.


Do you pay Social Security taxes on a settlement check?

No. FICA taxes (Social Security, Medicare, etc) are only paid on earned income.