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Section 101- There are now 50 million beneficiaries Section 504 - Substantial Gainful Activity Monthly amounts Section 509 - Trial Work Period The monthly amount is: Section 1412 - Foreign Social Security Credit
2005- $920; 2006- $970; 2007- $1,000; Go to Contents Appendix 3 FICA Maximum Earnings Social Security Tax: 2005-$90,000; Appendix 4 Sample Benefit Amounts Worker with steady earnings at the max level since age 22, Retirement at: Age 62 $1,452 $1,530 $1,598 $1,682 Age 65 $1,874 $1,961 $1,998 $2,030 Age 70 $2,252 $2,420 $2,672 $2,794 Maximum benefit at Full Retirement Age 2005- $1,939 Appendix 6 - Cost of Living Increase* *effective date December of preceding year, affects benefits payable beginninng January 2004- 2.1% Appendix 7 Earnings Limits Under Full Retirement Age 2006- $12,480 per year, $1,040 for Non-Service Month 2007- $12,960 per year, $1,080 for Non-Service Month 2008- $13,560 per year, $1,130 for Non-Service Month Full Retirement Age 2005- $31,800 per year, $2,650 for Non-Service Month 2006- $33,240 per year, $2,770 for Non-Service Month 2007- $34,440 per year, $2,870 for Non-Serice Month 2008- $36,120 per year, $3,010 for Non-Serice Month Go to Contents Appendix 11 Medicare Premiums and Deductibles Hospital Insurance - Part A Premium with less than 30 quarters Co-Payments First 60 Days (Total) 61st-90th Day (per day) Lifetime Reserve (per day) Skilled Nursing Care 20th-100th day (per day) Medical Insurance - Part B Premium
You Pay If Your Yearly Income in Tax Year 2005 was Single Married Couple $93.50 $80,000 or less $160,000 or less $105.80 $80,001-$100,000 $160,001-$200,000 $124.40 $100,001-$150,000 $200,001-$300,000 $142.90 $150,001-$200,000 $300,001-$400,000 $161.40 Above $200,000 Above $400,000
You Pay If You Are Married but You File a Separate Tax Return From Your Spouse and Your Yearly Income in Tax Year 2005 $93.50 Under $80,000 or less $142.90 $80,001-$120,000 $161.40 Above $120,000 2008- this premium is based on income most recently available from IRS
You Pay If You Are Married but You File a Separate Tax Return From Your Spouse and Your Yearly Income is $96.40 Under $82,000 or less $199.70 $82,001-$123,000 $238.40 Above $123,000
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