| | Government Benefits
Social Security
| Social Security Cost-of-living adjustment (COLA) | 2024 | 2025 |
|---|
| For Social Security and Supplemental Security Income (SSI)
beneficiaries | 3.20% | 2.50% |
| Tax rate--employee | 2024 | 2025 |
|---|
| FICA tax -- Employee
| 7.65% | 7.65% | | Social Security (OASDI) portion of tax
| 6.20% | 6.20% | | Medicare (HI) portion of tax | 1.45%1 | 1.45%1 |
| Tax rate--self-employed | 2024 | 2025 |
|---|
| Self-Employed | 15.30% | 15.30% | | Social Security (OASDI) portion of tax
| 12.40% | 12.40% | | Medicare (HI) portion of tax | 2.90%1 | 2.90%1 |
1 An additional 0.9% Medicare/hospital
insurance tax (for a total employee contribution of 2.35%) is assessed on wages
exceeding $200,000 ($250,000 for married couples filing joint returns, $125,000
for married individuals filing separate returns). An additional 0.9%
Medicare/hospital insurance tax (for a total Medicare portion of 3.8%) is
assessed on self-employment income exceeding $200,000 ($250,000 for married
couples filing joint returns, $125,000 for married individuals filing separate
returns).
| Maximum taxable earnings | 2024 | 2025 |
|---|
| Social Security (OASDI only) | $168,600 | $176,100 | | Medicare (HI only) | No limit | No Limit |
| Quarter of coverage | 2024 | 2025 |
|---|
| Earnings required | $1,730 | $1,810 |
| Retirement earnings test--exempt amounts--Under full
retirement age--Benefits reduced by $1 for each $2 earned above: | 2024 | 2025 |
|---|
| Yearly figure | $22,320 | $23,400 | | Monthly figure | $1,860 | $1,950 |
| Retirement earnings test--exempt amounts--Year individual
reaches full retirement age--Benefits reduced by $1 for each $3 earned above
(applies only to earnings for months prior to attaining full retirement
age): | 2024 | 2025 |
|---|
| Yearly figure | $59,520 | $62,160 | | Monthly figure | $4,960 | $5,180 |
| Retirement earnings test--exempt amounts--Beginning the month
individual attains full retirement age | 2024 | 2025 |
|---|
| No limit on earnings | No limit on earnings |
| Social Security disability thresholds | 2024 | 2025 |
|---|
| Substantial gainful activity (SGA) for the sighted (monthly
figure) | $1,550 | $1,620 | | Substantial gainful activity for the blind (monthly
figure) | $2,590 | $2,700 | | Trial work period (TWP) (monthly figure) | $1,110 | $1,160 |
| SSI federal payment standard | 2024 | 2025 |
|---|
| Individual (monthly figure) | $943 | $967 | | Couple (monthly figure) | $1,415 | $1,450 |
| SSI resource limits | 2024 | 2025 |
|---|
| Individual | $2,000
| $2,000 | | Couple | $3,000 | $3,000 |
| SSI student exclusion limits | 2024 | 2025 |
|---|
| Monthly limit | $2,290 | $2,350 | | Annual limit | $9,230 | $9,460 |
| Maximum Social Security benefit | 2024 | 2025 |
|---|
| Worker retiring at full retirement age (monthly figure) | $3,822 | $4,018 |
| Formula for Monthly Primary Insurance Amount (PIA) | 2024 | 2025 |
|---|
| (90% of first X of AIME + 32% of the AIME over X and through
Y + 15% of AIME over Y) | X=$1,174
Y=$7,078 | X=$1,226
Y=$7,391 |
Medicare
| Medicare monthly premium amounts--Part A (hospital insurance)
premium | 2024 | 2025 |
|---|
| Individuals with 40 or more quarters of Medicare-covered
employment | $0
| $0
| | Individuals with less than 40 quarters of Medicare-covered
employment who are not otherwise eligible for premium-free hospital
insurance | Up to $505 | Up to $518 |
| Medicare monthly premium amounts--Part B (medical insurance)
monthly premium--for beneficiaries who file an individual income tax return
with income that is: |
|---|
| 2024 | 2025 | 2024 | 2025 | | Less than or equal to $103,000 | Less than or equal to $106,000 | $174.702 | $185.002 | | $103,001 - $129,000 | $106,001 - $133,000 | $244.60 | $259.00 | | $129,001 - $161,000 | $133,001 - $167,000 | $349.40 | $370.00 | | $161,001 - $193,000 | $167,001 - $200,000 | $454.20 | $480.90 | | $193,001 - $499,999 | $200,001 - $499,999 | $559.00 | $591.90 | | $500,000 and above | $500,000 and above | $594.00 | $628.90 |
| Medicare monthly premium amounts--Part B (medical insurance)
monthly premium--for beneficiaries who file a joint income tax return with
income that is: |
|---|
| 2024 | 2025 | 2024 | 2025 | | Less than or equal to $206,000 | Less than or equal to $212,000 | $174.702 | $185.002 | | $206,001 - $258,000 | $212,001 - $266,000 | $244.60 | $259.00 | | $258,001 - $322,000 | $266,001 - $334,000 | $349.40 | $370.00 | | $322,001 - $386,000 | $334,001 - $400,000 | $454.20 | $480.90 | | $386,001 - $749,999 | $400,001 - $749,999 | $559.00 | $591.90 | | $750,000 and above | $750,000 and above | $594.00 | $628.90 |
| Medicare monthly premium amounts--Part B (medical insurance)
monthly premium--for beneficiaries who are married, but file a separate tax
return from their spouse and lived with spouse at some time during the taxable
year with income that is: |
|---|
| 2024 | 2025 | 2024 | 2025 | | Less than or equal to $103,000 | Less than or equal to $106,000 | $174.702 | $185.002 | | $103,001 - $396,999 | $106,001 - $393,999 | $559.00 | $591.90 | | $397,000 and above | $394,000 and above | $594.00 | $628.90 |
2 This is the standard Part B premium amount.
However, some people who get Social Security benefits will pay more or less than this
amount.
| Original Medicare plan deductible and coinsurance
amounts--Part A (hospital insurance) | 2024 | 2025 |
|---|
| Deductible per benefit period | $1,632 | $1,676 | | Coinsurance per day for 61st to 90th day of each benefit
period | $408 | $419 | | Coinsurance per day for 91st to 150th day for each lifetime
reserve day (total of 60 lifetime reserve days--nonrenewable) | $816 | $838 |
| Original Medicare plan deductible and coinsurance
amounts | 2024 | 2025 |
|---|
| Skilled nursing facility coinsurance per day for 21st to
100th day of each benefit period | $204 | $209.50 |
| Original Medicare plan deductible and coinsurance
amounts--Part B (medical insurance) annual deductible | 2024 | 2025 |
|---|
| Individual pays 20 percent of the Medicare-approved amount
for services after deductible is met | $240 | $257 |
Medicaid
| Income threshold | 2024 | 2025 |
|---|
| Monthly income threshold for income-cap states ("300 percent
cap limit") | $2,829 | $2,901 |
| Monthly maintenance needs allowance for at-home spouse | 2024 | 2025 |
|---|
| Minimum 3 | $2,465.00 | $2,555.00 | | Maximum | $3.853.50 | $3,948.00 |
| Community spousal resource allowance | 2024 | 2025 |
|---|
| Minimum | $30,828 | $31,584 | | Maximum | $154,140 | $157,920 |
3 Amounts listed actually effective as of July
of prior year; different amounts apply to Alaska and Hawaii.
|
