Thursday, December 30, 2010

What you pay for Medicare won't cover your costs - FoxNews.com

What you pay for Medicare won't cover your costs - FoxNews.com: "Consider an average-wage, two-earner couple together earning $89,000 a year. Upon retiring in 2011, they would have paid $114,000 in Medicare payroll taxes during their careers.

But they can expect to receive medical services — from prescriptions to hospital care — worth $355,000, or about three times what they put in."

"The same hypothetical couple retiring in 2011 will have paid $614,000 in Social Security taxes, and can expect to collect $555,000 in benefits. They will have paid about 10 percent more into the system than they're likely to get back."

No comments: