In 2013, AMAC—The Association of Mature American Citizens—took a big step with the creation of the AMAC Foundation, Inc., a registered 501(c)(3) non-profit entity designed to serve Americans. The Foundation’s mission is to help protect and ensure the financial security, health, and social lives of current and future mature Americans, and to help Americans navigate the bewildering array of decisions they need to make.
The Foundation’s projects and plans include providing factual information that improves understanding of the positive value of Social Security and Medicare and the current and long-term challenges these programs face, as well as providing interpretations by Certified Social Security Advisors through AMAC publications, workshops, webinars, podcasts, and telephone support.
In addition, the Foundation serves all Americans in a variety of capacities, including provision of a source of education on the principles of American Free Enterprise, long-term retirement financial planning, and preparing for life—and potential employment—after retirement.
We invite you to learn more about the Foundation and its operations at www.AmacFoundation.org
What is the amount deducted from social security for Medicare?
Marlene: For those signed up for Social Security and Medicare Part B, the Social Security Administration automatically deducts the premium from your monthly benefit. The actual amount of this deduction depends on your income level, but for most folks the monthly amount is $144.60. For 2020, if your modified adjusted gross income as filed in your 2018 tax federal return exceeds certain limits (generally $87,000 for single filers and $174,000 for joint filers), this amount is subject to additional charges. If your need help with this topic, please email our Social Security Advisory Service at [email protected] or call us at 888-750-2622.
Gerry Hafer
AMAC Foundation, Inc.