What Is Medicare A?
A: It's the program that pays your doctor and hospital bills when you are old, disabled, or have kidney failure.
Q: What does medicare cover?
A: Most medical bills. Medicare pays only 80%, and you pay the other 20%.
Q: Who is eligible for medicare?
A: People who are 65 or older. People with kidney failure. The disabled. People who receive Social Security.
Q: Am I eligible for medicare?
A: If you're 65 or older, and you're not already getting Social Security, you're probably eligible.
Q: What if I'm not 65?
A: If you have kidney failure, you're eligible. If you're disabled, you're eligible.
Q: Does everyone on medicare have to pay a premium?
A: Yes. It's usually $96 per month.
Q: Do I have to have a Social Security number to get medicare?
A: No. You may not have a Social Security number, but you must be a U.S. citizen.
Q: How do I apply for medicare?
A: You can enroll when you are turning 65. You can also enroll if you're disabled, or if you receive kidney failure.
Q: Where can I find out if I qualify for medicare, and how to apply?
A: Call Social Security. Their number is 1-877-690-1012.
Q: Is there any way I can get medicare and not pay a premium?
A: Yes. You can apply for a medicare savings plan instead of paying the premium. There are three plans.
Q: How much does it cost to enroll in a medicare savings plan?
A: The monthly premium is $35, $50, or $75, depending on your income.
Q: What is a medicare supplement?
A: It's a private plan that you can buy to cover the 20% of your medical expenses that medicare doesn't pay.
Q: How much does a medicare supplement cost?
A: The monthly premium is $80, $120, or $140, depending on your income.
Q: Can I get a medicare supplement if I'm already enrolled in a medicare savings plan?
Q: When can I begin to collect on my social security?
A: Anytime between the ages of 62 and 70.
Q: What is the social security tax?
A: It's the tax you pay on your wages, up to a certain amount. Your employer pays the same amount.
Q: What is the tax rate?
A: For wages up to $102,000, the tax rate is 12.4%. For wages over $102,000, the tax rate is a little higher.
Q: How much do I get when I retire?
A: Social Security pays a monthly check, which is based on 4% of your average earnings.
Q: Will I get more back from social security than I pay in?
A: Probably. In fact, the government is running a deficit right now, and you're paying for it.
Q: How much do I get back?
A: The government pays you about 12% on your contributions.
Q: Will I get a raise in social security when I retire?
A: Yes. Social Security will pay you a minimum of 50% of the increase in price of goods.
Q: How can I get a raise in social security?
A: By paying more into it. The government will give you a raise if you use what you've contributed.
Q: Can I get my social security money if I don't need it?
A: Yes. The government will send you a check.
Q: Can I get my social security money before I retire?
A: Yes. You can take what you have contributed as a loan. The interest rate is 6.9%.
Q: What happens if I die before I get social security?
A: You can leave the money to your family.
Q: Is there a way to get larger payments from social security?
A: Yes. You can buy an annuity that replaces your monthly check.
Q: How much money will I get from social security if I live to the age of 65?
A: The average is about $1000 a month.
Q: Can I take social security early or late?
A: Yes. You can take it early or late.
Q: Will taking social security early give me a bigger payment?
A: No. It will take a bigger payment to buy the same annuity.
Q: Will taking social security late give me a smaller payment?
A: Yes. It will take a smaller payment to buy the same annuity.
Q: How much money will I get from social security if I live to the age of 70?
A: The average is about $1500 a month.
Q: Can I take social security early and then take it late?
A: Yes. You just pay twice.
Q: Will I get as big a payment from social security if I take it late?
A: Yes. If you take it late, you get a larger check.
Q: What is a social security benefit?
A: It's a monthly payment from the government to people who have paid social security taxes.
Q: What is a social security check?