medicare

High-Income Individuals Face New Medicare-Related Taxes

Financial / By

The health-care reform legislation enacted in 2010 included new Medicare-related taxes that first took effect in 2013. These new taxes target high-income individuals and families. Here are the basics: Additional Medicare payroll tax If you receive a paycheck, you probably have some familiarity with the Federal Insurance Contributions Act (FICA) employment tax; at the very […]

High-Income Individuals Face New Medicare-Related Taxes Read More »

Medicare

Financial / By

Medicare is a federal program that provides health insurance to retired individuals, regardless of their medical condition, and certain younger people with disabilities or end-stage renal disease. Here are some basic facts about Medicare that you should know. What does Medicare cover? Medicare coverage consists of two main parts: Medicare Part A (hospital insurance) and

Medicare Read More »

Social Security and Medicare Face Financial Challenges

Financial / By

Most Americans will eventually receive Social Security and Medicare benefits. Each year, the Trustees of the Social Security and Medicare Trust Funds release lengthy reports to Congress that assess the health of these important programs. The newest reports, released on April 22, 2020, discuss the current financial condition and ongoing financial challenges that both programs

Social Security and Medicare Face Financial Challenges Read More »

What Does the Future Hold for Social Security and Medicare?

Financial / By

Each year, the Trustees of the Social Security and Medicare trust funds provide detailed reports to Congress that track the programs’ current financial condition and projected financial outlook. These reports have warned for years that the trust funds would be depleted in the not-too-distant future, and the most recent reports, released on May 6, 2024,

What Does the Future Hold for Social Security and Medicare? Read More »