Here's an updated table including 2022-2025:
|
Category |
2022 |
2023 |
2024 |
2025 |
|---|---|---|---|---|
|
Social Security Wage Base |
$147,000 |
$160,200 |
$168,600 |
$176,100 |
|
Social Security Tax Rate |
6.2% |
6.2% |
6.2% |
6.2% |
|
Maximum Social Security Tax (Employee) |
$9,114.00 |
$9,932.40 |
$10,453.20 |
$10,918.20 |
|
Medicare Tax Rate |
1.45% |
1.45% |
1.45% |
1.45% |
|
Additional Medicare Tax (on wages over $200,000) |
0.9% |
0.9% |
0.9% |
0.9% |
|
Medicare Wage Base |
No limit |
No limit |
No limit |
No limit |
|
Earnings Limit (Under Full Retirement Age) |
$19,560 |
$21,240 |
$22,320 |
$23,400 |
For individuals under full retirement age, Social Security reduces benefits by $1 for every $2 earned above the annual limit. If you reach full retirement age in 2025, the earnings limit before reaching that age is $62,160, with benefits reduced by $1 for every $3 earned above that limit. Once you reach full retirement age, there is no earnings limit.
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Social Security & Medicare Benefits (2025)
|
Category |
2025 Figures |
|---|---|
|
Maximum Social Security benefit at FRA |
$4,018 per month |
|
Social Security wage base |
$176,100 |
|
Social Security tax rate |
6.2% |
|
Medicare tax rate |
1.45% |
|
Additional Medicare tax (on wages over $200,000) |
0.9% |
|
Earnings limit (under full retirement age) |
$23,400 |
|
Earnings limit (reaching full retirement age in 2025) |
$62,160 |
|
Social Security credits (per $1,730 earned) |
1 credit (max 4/year) |
|
Full retirement age (FRA) |
67 (born in 1960 or later) |
Medicare Costs (2025)
|
Category |
2025 Figures |
|---|---|
|
Medicare Part A premium |
Up to $518/month |
|
Medicare Part A deductible |
$1,676 per benefit period |
|
Medicare Part B premium |
$185/month |
|
Medicare Part B deductible |
$257/year |
Medicare Part B Premium (Income-Based)
|
Income Level (Single Filer) |
Monthly Premium |
|---|---|
|
$106,000 or less |
$185 |
|
$106,000 - $133,000 |
$259 |
|
$133,000 - $167,000 |
$370 |
|
$167,000 - $200,000 |
$480.90 |
|
$200,000 - $500,000 |
$591.90 |
|
$500,000 or more |
$628.90 |