ered under the hospital insurance and the SMI covers services under medical insurance. The Social Security tax gives the 1.45- percent to the Medicare portion. Usually people who are 65 and receiving Social Security or disability benefits automatically qualify for Medicare. The last and most important section of the Social Security is Retirement. Retirement is essential because every people cannot work anymore at a certain age (old) and they would certainly need help. These benefits give the option to keep getting a check for most of today's older Americans. The retirement benefits are only for those who get to the age of 65 and have enough credits. People that are 62 years old can also get these benefits but reduced. Since 1929, 40 credits are needed to qualify for the benefits. Such benefits are a percentage of the earnings averaged over the most of a working person's lifetime. Obviously high wage earners get a check monthly with a higher amount of money than the low wage earners. The average monthly benefit payable to all retired workers is $720.00. This is a really good advantage of the Social Security since it provides benefits payments for more than 9 out of 10 AmericansAs the Social Security has many advantages it also has many disadvantages as well. The most notable disadvantage for most Americans is the deduction of their paychecks. A deduction that is the 7.26 percent and that makes a big difference for people that earn high wages. Eventually this prevents people from becoming wealthy.Even thought the Social Security provides with many benefits as disability, family benefits, survivors, Medicare and retirement, it has specific qualifications that not everybody would be able to meet. This makes it to be a hard, stressing and frustrating process. A really good example of this is that in order to be eligible for certain benefits, enough credits must be earned.According to the facts only citizens that have a physical or mental imp...
