Social Security and Medicare changes in 1999

1998 cost of Living adjustment 2.10%
Tax Rate for employees (unchanged)

Social security portion

Medicare portion

7.65%

6.20

1.45

Maximum taxable payroll earnings

Social Security

Medicare

68,400

no limit

Retirement earnings-test exemption annual amounts

Under age 65

Ages 65- 69

$9,120

$14,500

Maximum monthly social security benefit for worker retiring at age 65 in January 1998 $1,342
Average monthly Social Security benefits

All retired workers

Couple, both receiving benefits

Widow(er)

765

1,288

731

Maximum monthly SSI payments

Individual

Couple

494

741

Maximum allowable assets for SSI (unchanged)

Individual

Couple

2,000

3,000

Medicare Part B monthly premium 43.80
Medicare Part A deductible- hospital stay first 60 days

Copayment days 61- 90

Copayment for lifetime reserves days

Copayment for skilled nursing facility, days 21- 100

Buy in premium (worked less than 30 quarters)

Buyin premium (worked 30 quarters or more)

764

191/day

382/day

95.50/day

309/mo.

170/mo

Medicaid

Community Spouse Resource Allowance

Minimum ($12,000)

Maximum ($60,000)

Monthly Maintenance Needs Allowance

Minimum ($1,000)

Maximum ($1,500)



$16,152

$80,760


$1,326

$2,019

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