1 Premiums for medigap supplemental insurance. 2  The amount you pay out of pocket for deductibles and copayments or coinsurance for Medicare Parts A, B and D services. 3  The amount you pay out of pocket for prescription drugs in the Part D doughnut hole.
If you are not receiving benefits, and you do not pay the amount back, we can recover the overpayment from your federal income tax refund or from your wages if you are working. Also, we can recover overpayments from future SSI or Social Security benefits.We also will report the delinquency to credit bureaus.f you agree that you have been paid too. much and that the overpayment amount is. correct, you have options for repaying it. If you are receiving Social Security benefits, we will withhold the full amount of your. benefit each month, unless you ask for a lesser. withholding amount and we approve your. request.
Whether you have to pay federal income taxes on your Social Security retirement benefits depends on how much income you report on your tax return. Check Form SSA-1099 -- Social Security Benefit Statement -- which you receive from the Social Security Administration aftr the close of the tax year.f you continue working after you reach your full retirement age and begin collecting your Social Security retirement benefits, your employer must still withhold taxes from your gross earnings. The federal income tax withholding is separate from the Social Security and Medicare taxes.