2024 Quarter Of Coverage. Everyone needs 40 quarters of coverage to be eligible for social security retirement benefits and the premium free hospital insurance of medicare. The law specifies that the quarter of coverage (qc) amount for 2025 is equal to the 1978 amount of $250 multiplied by the ratio of the national average wage index for 2023 to that for 1976, or, if larger, the 2024 amount of $1,730.
Bir form 1701q must be filed every first to third quarter of each year. Last week, the affordable care actโs (aca) health insurance marketplace open enrollment period (during which individuals and small groups can shop for 2024 coverage).