What Is Medicare A?

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?

A: No.

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?

A:

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