Medicare tax funds Part A hospital insurance, applying to nearly all U.S. workers, including self-employed.
The standard Medicare tax rate is 2.9%, split 1.45% each between employers and employees.
All earned income is taxable, with high earners paying 0.9% additional Medicare tax above thresholds.
Net investment income above thresholds is taxed 3.8%, affecting dividends, interest, capital gains, and rentals.
Collected taxes support hospital, hospice, and nursing care, but the trust fund may face shortfalls by 2031.
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Who Pays Medicare Tax and How
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What Medicare Updates Are Coming in 2026? | I’m Mike Harrington, assisting you to get the coverage that fits your needs Contact me today.
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SSBCI perks tighten—only health-related benefits now qualify; non-medical perks are being removed.Slide 2:
Low-income Part D beneficiaries face higher prescription costs due to reduced federal premium support.Slide 3:
Medicare eligibility narrows to citizens, green card holders, and certain legal immigrants only.Slide 4:
Medicare Savings Programs remain complex, with simplification delayed until 2034 for low-income enrollees.Slide 5:
Provider networks may change; confirm doctors and hospitals stay in-network before switching plans. -
US businesses brace for over 9% health insurance premium rise in 2026
U.S. businesses face the largest health insurance premium increase in over 15 years, with employer coverage costs rising about 9.5% in 2026. Family-plan premiums average $25,500, driven by higher healthcare prices, increased service use, chronic illnesses, and costly drugs like GLP-1s. Companies are redesigning plans or shifting costs to employees, while government exchange premiums may more than double, straining both employers and consumers.
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Latest Medicare Enrollment Scams and How to Avoid Them | I’m Mike Harrington, assisting you to get the coverage that fits your needs Contact me today.
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🚪 No one from Medicare shows up at your door — that’s always a scam.
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📞 Unexpected calls “from Medicare”? Hang up. Medicare never cold-calls asking for your info.
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💳 Beware fake card replacements — your Medicare card never needs “activation” or chip upgrades.
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⚠️ Pushy sales tactics for Advantage plans? Illegal. Licensed agents can’t offer gifts or charge fees.
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🛡️ Protect yourself: never share info, reject freebies, check benefit statements, report scams fast.
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What Is Cancer-Specific Insurance? | I’m Mike Harrington, assisting you to get the coverage that fits your needs Contact me today.
Cancer-specific insurance provides financial support if you’re diagnosed with cancer, beyond your regular health plan.
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Can you make too much money to be eligible for Medicare?
Medicare eligibility is not limited by income; anyone 65 or older or qualifying by disability can enroll. However, higher income affects premiums for Part B and Part D through the Income-Related Monthly Adjustment Amount (IRMAA), increasing costs for wealthier beneficiaries. IRMAA is based on income from two years prior. Strategic retirement planning, such as managing withdrawals, Roth conversions, and appealing IRMAA adjustments, can help control Medicare costs.
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Can seniors avoid paying for Medicare Part B?
Medicare Part B premiums have risen to $185 monthly in 2025, posing challenges for seniors on fixed incomes. Most cannot avoid paying Part B, but those still working with employer coverage can delay enrollment without penalty. Low-income seniors may qualify for programs that help cover premiums. However, skipping Part B can limit access to supplemental plans and increase out-of-pocket costs, making enrollment generally advisable.
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Turning 65? Don’t Miss Your Medicare Deadline!
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Turning 65? Medicare signup is your biggest health and money decision.Slide 2
Initial Enrollment: 7 months around your 65th birthday—don’t miss or risk penalties.Slide 3
Still working at 65? Ask your employer if you can delay Medicare safely.Slide 4
Missed it? General Enrollment runs Jan–Mar yearly, but coverage waits till July.Slide 5
Open Enrollment lets you switch, adjust, or review plans every fall and early spring. -
Simplified Issue Life Insurance: Fast Coverage Without Medical Exams
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Simplified issue life insurance offers quick coverage without medical exams—just answer a few health questions.
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Ideal for those needing immediate protection or who prefer to skip the traditional underwriting process.
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Policies typically have higher premiums and lower coverage amounts compared to fully underwritten life insurance.
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Not suitable for everyone; individuals with serious health issues might not qualify for this type of policy.
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Great for young adults or those seeking hassle-free, immediate life insurance coverage.
