Social Security
| Social Security Cost-of-living adjustment (COLA) |
2021 |
2022 |
| For Social Security and Supplemental Security Income (SSI) beneficiaries |
1.30% |
5.90% |
| Tax rate–employee |
2021 |
2022 |
| FICA tax — Employee |
7.65% |
7.65% |
| Social Security (OASDI) portion of tax |
6.20% |
6.20% |
| Medicare (HI) portion of tax |
1.45%1 |
1.45%1 |
| Tax rate–self-employed |
2021 |
2022 |
| Self-Employed |
15.30% |
15.30% |
| Social Security (OASDI) portion of tax |
12.40% |
12.40% |
| Medicare (HI) portion of tax |
2.90%1 |
2.90%1 |
1 An additional 0.9% Medicare/hospital insurance tax (for a total employee contribution of 2.35%) is assessed on wages exceeding $200,000 ($250,000 for married couples filing joint returns, $125,000 for married individuals filing separate returns). An additional 0.9% Medicare/hospital insurance tax (for a total Medicare portion of 3.8%) is assessed on self-employment income exceeding $200,000 ($250,000 for married couples filing joint returns, $125,000 for married individuals filing separate returns).
| Maximum taxable earnings |
2021 |
2022 |
| Social Security (OASDI only) |
$142,800 |
$147,000 |
| Medicare (HI only) |
No limit |
No limit |
| Quarter of coverage |
2021 |
2022 |
| Earnings required |
$1,470 |
$1,510 |
| Retirement earnings test–exempt amounts–Under full retirement age–Benefits reduced by $1 for each $2 earned above: |
2021 |
2022 |
| Yearly figure |
$18,960 |
$19,560 |
| Monthly figure |
$1,580 |
$1,630 |
| Retirement earnings test–exempt amounts–Year individual reaches full retirement age–Benefits reduced by $1 for each $3 earned above (applies only to earnings for months prior to attaining full retirement age): |
2021 |
2022 |
| Yearly figure |
$50,520 |
$51,960 |
| Monthly figure |
$4,210 |
$4,330 |
| Retirement earnings test–exempt amounts–Beginning the month individual attains full retirement age |
2021 |
2022 |
|
No limit on earnings |
No limit on earnings |
| Social Security disability thresholds |
2021 |
2022 |
| Substantial gainful activity (SGA) for the sighted (monthly figure) |
$1,310 |
$1,350 |
| Substantial gainful activity for the blind (monthly figure) |
$2,190 |
$2,260 |
| Trial work period (TWP) (monthly figure) |
$940 |
$970 |
| SSI federal payment standard |
2021 |
2022 |
| Individual (monthly figure) |
$794 |
$841 |
| Couple (monthly figure) |
$1,191 |
$1,261 |
| SSI resource limits |
2021 |
2022 |
| Individual |
$2,000 |
$2,000 |
| Couple |
$3,000 |
$3,000 |
| SSI student exclusion limits |
2021 |
2022 |
| Monthly limit |
$1,930 |
$2,040 |
| Annual limit |
$7,770 |
$8,230 |
| Maximum Social Security benefit |
2021 |
2022 |
| Worker retiring at full retirement age (monthly figure) |
$3,148 |
$3,345 |
| Formula for Monthly Primary Insurance Amount (PIA) |
2021 |
2022 |
| (90% of first X of AIME + 32% of the AIME over X and through Y + 15% of AIME over Y) |
X=$996 Y=$6,002 |
X=$1,024 Y=$6,172 |
Medicare
| Medicare monthly premium amounts–Part A (hospital insurance) premium |
2021 |
2022 |
| Individuals with 40 or more quarters of Medicare-covered employment |
$0 |
$0 |
| Individuals with less than 40 quarters of Medicare-covered employment who are not otherwise eligible for premium-free hospital insurance |
Up to $471 |
Up to $499 |
| Medicare monthly premium amounts–Part B (medical insurance) monthly premium–for beneficiaries who file an individual income tax return with income that is: |
2021 |
2022 |
| Less than or equal to $91,000 |
$148.502 |
$170.102 |
| $91,001 – $114,000 |
$207.90 |
$238.10 |
| $114,001 – $142,000 |
$297.00 |
$340.20 |
| $142,001 – $170,000 |
$386.10 |
$442.30 |
| $170,001 – $499,999 |
$475.20 |
$544.30 |
| $500,000 and above |
$504.90 |
$578.30 |
| Medicare monthly premium amounts–Part B (medical insurance) monthly premium–for beneficiaries who file a joint income tax return with income that is: |
2021 |
2022 |
| Less than or equal to $182,000 |
$148.502 |
$170.102 |
| $182,001 – $228,000 |
$207.90 |
$238.10 |
| $228,001 – $284,000 |
$297.00 |
$340.20 |
| $284,001 – $340,000 |
$386.10 |
$442.30 |
| $340,001 – $749,999 |
$475.20 |
$544.30 |
| $750,000 and above |
$504.90 |
$578.30 |
| Medicare monthly premium amounts–Part B (medical insurance) monthly premium–for beneficiaries who are married, but file a separate tax return from their spouse and lived with spouse at some time during the taxable year with income that is: |
2021 |
2022 |
| Less than or equal to $91,000 |
$148.502 |
$170.102 |
| $91,001 – $408,999 |
$475.20 |
$544.30 |
| $409,000 and above |
$504.90 |
$578.30 |
2 This is the standard Part B premium amount. However, some people who get Social Security benefits will pay more or less than this amount.
| Original Medicare plan deductible and coinsurance amounts–Part A (hospital insurance) |
2021 |
2022 |
| Deductible per benefit period |
$1,484 |
$1,556 |
| Coinsurance per day for 61st to 90th day of each benefit period |
$371 |
$389 |
| Coinsurance per day for 91st to 150th day for each lifetime reserve day (total of 60 lifetime reserve days–nonrenewable) |
$742 |
$778 |
| Original Medicare plan deductible and coinsurance amounts |
2021 |
2022 |
| Skilled nursing facility coinsurance per day for 21st to 100th day of each benefit period |
$185.50 |
$194.50 |
| Original Medicare plan deductible and coinsurance amounts–Part B (medical insurance) annual deductible |
2021 |
2022 |
| Individual pays 20 percent of the Medicare-approved amount for services after deductible is met |
$203 |
$233 |
Medicaid
| Income threshold |
2021 |
2022 |
| Monthly income threshold for income-cap states (“300 percent cap limit”) |
$2,382 |
2,523 |
| Monthly maintenance needs allowance for at-home spouse |
2021 |
2022 |
| Minimum 3 |
$2,155.00 |
$2,177.50 |
| Maximum |
$3,259.50 |
TBD |
| Community spousal resource allowance |
2021 |
2022 |
| Minimum |
$26,076.00 |
TBD |
| Maximum |
$130,380.00 |
TBD |
3 Amounts listed actually effective as of July of prior year; different amounts apply to Alaska and Hawaii. |
