Not as progressive as you might think. This is from Health Affairs via Sarah Kliff:
We know that education has a big impact on earnings and the ability to find employment. It also turns out to have a huge influence on how long Americans live: White men with less than a high school diploma had a life expectancy 12.9 years shorter than those with 16 or more years of education, according to new research in the journal Health Affairs. For women, the life expectancy gap stands at 10.4 years.
The Social Security payout formula is progressive. But less educated workers can expect to receive more than a decade’s worth of fewer benefits. Ditto for Medicare. See our previous post here.