Social Security Tax Limit 2024 Increase. For medicare's hospital insurance (hi) program, the taxable maximum was the same as that for the oasdi program. In 2024, the maximum amount of earnings on which you must pay social security tax is $168,600.

Those who are receiving social security benefits got a 3.2% raise in 2024. That means that the maximum amount of social security tax an employee will pay (through.