Social Security and Medicare ( FICA )
Both you and OSU pay equally for Social Security and Medicare. Benefits provided by Social Security include old age, survivors, and disability insurance.
For 2016, employers pay 6.2% of taxable income on the first $118,500 of pay with an annual maximum of $7,374.00. Employees are taxed on the same basis. OSU withholds this amount from your pay.
- What you can do online
- Get your social security earnings statement
- Estimate your retirement benefits
- Requesting a social security care
- Finding a local social security office
You may be interested in visiting www.medicare.gov for additional information regarding:
- Medicare billing
- Finding out if you are eligible for Medicare
- Providing an address change
- Getting a replacement card
- Getting forms
If you are still an active employee, you and any covered dependents will continue to be on one of the active employee plans even if you or your spouse have reached age 65 and are covered by Medicare Part A with no charge. You may not want to enroll in Part B while actively employed, because OSU will continue to be the primary payer. Medicare Part B pays very little in this situation and there is a monthly premium cost.