In the United States, a picture ID is required for a number of things, including purchases of products that are age-restricted. You also need to present a picture ID to do things like rent a vehicle or enter into certain other contractual agreements. Although identification with your picture on it is generally accepted when conducting […]
What do Social Security taxes pay for?
Upon receipt of the W-2 Wage and Tax Statement from your employer, you may look at line item number 4 on the form, which is labeled “Social Security tax withheld,” and wonder where these automatic deductions have been going. The simple answer is that the Social Security tax, which is withheld by payroll in accordance […]
How Do Social Security Numbers Work?
Each legal resident of the United States is assigned a Social Security Number, and it serves a critical purpose in identification. These numbers are used for a variety of things, including taxes, benefits, signing up for loans, and much more. If you qualify for a Social Security Number, it is important to get one as […]
When Does My Social Security Check Come?
Eligibility for retirement benefits through Social Security may begin at age 62, assuming the beneficiary has earned enough credits through employment. Over the span of a working lifetime, accrual of forty credits is the standard requirement for benefits at retirement. Exceptions apply for disability and survivor benefits. The Social Security Administration will not process applications […]
How Does Medicare Plan G Work?
Medicare recipients have several options when it comes to expanding or enhancing their Original Medicare benefits. These options vary widely, so understanding their differences can help recipients make the best choice for their care. What is a Medicare Supplement Plan? Original Medicare, Part A (hospital insurance) and Part B (medical insurance), require beneficiaries to share […]
How Does Medicare Pay for Hospice?
End-of-life care involves a wide range of services, and so it requires special coverage rules through Medicare Part A. A recipient may not see much change in terms of how their services are provided, they should understand what their cost-sharing obligations may be while receiving hospice care. What is Hospice Care? Whether it’s provided at […]
How Does Medicare Supplement Plan N Work?
Medicare Supplement plans, which can also be called Medigap plans, enhance Original Medicare benefits that have certain limitations. Although Original Medicare helps cover many medical expenses, there are out-of-pocket costs that can add up. To protect themselves from potentially stressful out-of-pocket expenses, many Medicare recipients choose to buy supplemental insurance, such as a Medigap plan. […]
What Year Does Medicare Kick In?
Medicare is available to beneficiaries once they reach the age of 65 or, if they are under the age of 65, after their 24th month of receiving Social Security Disability Insurance (SSI) due to disability. Certain factors can impact when enrollment can begin and what a beneficiary’s options are when they’re approaching eligibility. Medicare Enrollment […]
What Does a Social Security Number Mean?
In the United States, having a Social Security number (SSN) is critical. Parents often apply for this nine-digit number for their newborn babies so they can open a bank account in the child’s name to start a college fund. From a young age, Americans learn to safeguard and memorize their number, keeping their Social Security […]
What Does Social Security Pay?
The Social Security Administration (SSA) issues payments to those who qualify by having enough credits earned through working. The number of required credits depends on the type of benefit. An application needs to be submitted to the SSA for any of the following provisions: Retirement Disability Family survivors Medicare Your Social Security Statement includes a […]
What Does Medicare Open Enrollment Mean?
Medicare enrollment typically begins at age 65, or under the age of 65 if an individual qualifies because of certain permanent disabilities. Many eligible individuals are surprised to learn that they only have a limited amount of time each year to make major changes to their Medicare coverage. This period of time is known as […]
How Much Does Medicare Cost?
Medicare is a program designed to help seniors and other eligible Americans access quality healthcare at an affordable price; however, taking part in Medicare will include some out-of-pocket costs. While there are some state-sponsored healthcare and wellness programs available at no cost, including Medicaid and the Supplemental Nutrition Assistance Program (SNAP), Medicare does require payment […]
How Much Does Medicare Pay for Nursing Home?
As Americans are living longer, older individuals are more in need of senior care then ever. For some, this means having someone visit the home once a day or a few times a week to assist with general care and light housekeeping, but for others, around-the-clock medical care is required. In these cases, a nursing […]
Does Medicare Cover Me in Canada?
Canada is one of the United States’ closest allies on the world stage, but it is also a very important trade partner. Additionally, many Americans work in Canada while living in the United States, and travel between the two countries is common for leisure and commerce. Both countries also share a common language and history […]
How Does Medicare Reimburse Hospitals for Inpatient Stays?
The way in which Medicare repays a hospital for the services it provides to inpatient recipients can depend on several factors. What is the Difference Between Inpatient and Outpatient Stays? Knowing the difference between what counts as an outpatient or inpatient stay in a hospital can help you prepare for any cost-sharing obligations that may […]
What is the Medicare Phone Number?
Any time you have questions concerning your Medicare insurance coverage, you can use the various tools that the Centers for Medicare & Medicare Services (CMS) and the Social Security Administration have put in place for your assistance. You can speak to a Medicare representative by calling their official toll-free phone number directly at 1-800-633-4227 (or […]
What is Railroad Retirement Medicare? Copy Copy
Ever since 1935, the United States Railroad Retirement Board (RRB) has been administering social insurance and retirement benefits to all railroad workers in the country. Railroad workers do not receive their retirement benefits from the U.S. Social Security Administration as other workers do. While the RRB provides railroad workers and their families with retirement benefits […]
2020 Medicare Advantage Guide – What to Know
From 1999 to 2019, Medicare Advantage (Part C) enrollment almost doubled, as reported by Henry J. Kaiser Family Foundation (KFF), rising from 18% of Medicare beneficiaries to over 34% across this time period. The Congressional Budget Office (CBO) expects sign-ups to increase to about 47% by 2029, noting that Medicare beneficiaries with Part C reached […]
How Does Medicare Work with Employer Insurance?
More and more people are starting to work past the traditional retirement age of 65 and continue to get healthcare benefits through their employer. When this happens, and they also have Medicare benefits, questions arise. Understanding how Medicare works with your employer’s health insurance benefits or your spouse’s job can help you decide if you […]
How Does Medicare Donut Hole Work?
Have you heard of the Medicare “donut hole?” Maybe you just enrolled in Medicare Part D to help with your prescription drug coverage. If so, you could wonder about the different Part D benefit stages. There is a coverage gap known as the donut hole that you have to be aware of when you enroll […]