Talk of The Villages Florida - View Single Post - Are Soc. Sec. and Medicare important to you?
Thread: Are Soc. Sec. and Medicare important to you?
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Old 10-07-2020, 03:16 PM
justjim justjim is offline
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Default Good explanation
Quote:
Originally Posted by retiredguy123 View Post
The level of importance for Social Security and Medicare is heavily dependent on a person's overall income. Both systems are designed to transfer wealth from higher income people to lower income people. All working people contribute to the system, but the distribution of benefits is very skewed in favor of those who did not contribute as much. In the case of Medicare, most people need it, and everyone receives the same benefits. But, higher income people pay more while working, and when they retire, they may pay as much as about 4 times the monthly Part B premium as those who pay the basic premium.
Overall a good explanation. Many Villagers would be “in a world of hurt” without S. S. and Medicare. Especially Medicare.
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