Social Security and Medicare Overview

A federal program offering retirement, survivors', and disability benefits funded by worker contributions.

A payroll tax that funds Social Security and Medicare.

Both employees and employers must contribute a portion of their income to Social Security through FICA.

The amount of income subject to Social Security taxes. For 2024, this limit is $168,600.

Points earned for every $1,730 of covered earnings, with a maximum of 4 credits per year. Most individuals need 40 credits to qualify for benefits.

A federal health insurance program for individuals 65 and older or those with disabilities, requiring 40 work credits for eligibility.

The portion of Medicare covering hospital insurance, typically automatically provided to those who worked and paid Medicare taxes.

The portion of Medicare covering medical insurance, requiring a premium payment.

A Medicare option allowing individuals to receive healthcare services through a provider organization, requiring opt-in and often premium payments.

The portion of Medicare covering prescription drug coverage, requiring opt-in and premium payments.

A state-run program providing health insurance for low-income individuals, with eligibility varying by state.

A federal law regulating private retirement plans, ensuring proper management standards, record keeping, investment practices, and vesting.

An independent federal agency established by ERISA to ensure timely pension payments to workers.

The immediate vesting of an employee's contributions to a private retirement plan.

The vesting of employer contributions to a private retirement plan after working for the employer for a certain period, typically 5 years.

A federal program providing temporary financial assistance to individuals who have lost their jobs through no fault of their own. It is funded through employer taxes.

A federal law that requires employers to provide continuation of health insurance coverage to employees who lose their jobs for up to 18 months.

A law governing the privacy and security of employee health information held by employers. It establishes rules for the use, disclosure, and protection of this sensitive information.

The right of an individual to be free from unreasonable intrusion into their private affairs. This principle is relevant in the workplace in relation to employee monitoring.

A federal law that prohibits employers from intercepting or disclosing electronic communications without employee consent, with exceptions for business-related communications.

An exception to the ECPA that allows employers to monitor electronic communications through devices they own or provide for work purposes, as long as they notify the employee of this monitoring.

A law that prohibits most private employers from requiring lie detector tests for employment purposes, with certain specific exceptions.

The use of tests to detect the presence of drugs in an individual's system. Regulations and limitations vary depending on whether it's a private or public employer.

A legal framework that balances an employer's legitimate need to monitor employee activity with the employee's reasonable expectation of privacy.

A government agency that provides insurance to protect workers' pensions in case their plan fails. It collects annual premiums from pension plans.

A law that applies to government employees and protects their right to free speech. However, it does not apply to private sector employees.

A federal law that mandates certain requirements for employer-sponsored group health plans, including administrative requirements and the protection of employee health information privacy.

The process of monitoring employee activity in the workplace, such as internet usage, emails, phone calls, or physical surveillance. This practice is subject to legal restrictions and employee expectations of privacy.

A type of monitoring that involves using electronic devices to monitor employee communications, such as emails, phone calls, or internet usage.

A type of monitoring that involves using physical means to observe employee behavior in the workplace, such as video surveillance or security cameras.