what do i get for medicare tax?
i have a basic understanding of what i get for income tax, sales tax, social security tax, auto registration tax, etc...but what do i get for medicare tax if i have an HMO?
2007-12-20 13:51:34 · 5 answers · asked by viajero_intergalactico 6 in Business & Finance ➔ Taxes ➔ United States
You are paying in advance for hospital coverage after you retire. Most people will not get the benefit of their Medicare taxes until they are 65. Your HMO coverage now is irrelevant.
2007-12-20 14:04:46 · answer #1 · answered by Anonymous · 0⤊ 0⤋
You are paying a contribution (mandatory) to find the national Medicare program for those over 65 years of age (and a few others who qualify for other reasons). With any kind of luck, you will live to see the benefits of this program.
2007-12-20 15:01:45 · answer #2 · answered by acermill 7 · 0⤊ 0⤋
Kind of the same as social security tax. You will need medicare when you retire.
2007-12-20 13:54:56 · answer #3 · answered by mamatohaley+1 4 · 0⤊ 0⤋
I have to pay taxes for roads I never drive on.
Your taxes are not directly spent on you.
2007-12-20 13:55:27 · answer #4 · answered by Anonymous · 0⤊ 0⤋
Because Congress say so.
2007-12-20 14:40:53 · answer #5 · answered by Anonymous · 0⤊ 0⤋