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Beginning January 1, 1994, the compensation limit was removed. In the case of self-employed individuals, the tax is 2.9% of net earnings from self-employment, and the entire amount is paid by the self-employed individual. (source: 3 www.wikipedia.com)
New Drug Coverage Program
In 2003, the federal government added prescription drug coverage to Medicare, the biggest change to the program since it was created in 1965. The actual benefit began in January 2006. Supporters say with elderly Americans more and more dependent on prescription drugs the benefit covers a vital need. Critics say the program is expensive and offers little actual coverage...
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