Reply to What Would You Be Willing to Do to Save SS?

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[quote=Anonymous][quote=Anonymous]I posted about the contribution and benefits. Medicare:
https://www.medicare.gov/your-medicare-costs/part-a-costs/part-a-costs.html

Part A-hospital- $411 per month if you have not paid into it. Part B premiums MAGI above $85,000 up to $107,000[married 214k]>standard premium121.80+48.70+12.70prescription=183.20.  Amt extra annually is 994/person.

Through states people NOT eligible for SS and those eligible can receive income based help for paying Part A and Part B.

[/quote]

Retirement security person here. Sorry, but Medicare is not my thing and I don't know much about the numbers! Those numbers do seem high to me. On the other hand, it's expensive to insure older people, and Medicare is in worse financial shape than SS.

Here's something I do know about. The SS "benefit cap" you mention is actually calculated as the benefit you would receive if you earned more than the contribution cap each year. So even if I was Bill Gates, I wouldn't contribute more than somebody else who earned more than the cap, and I wouldn't get higher benefits.[/quote]

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