Dependency status on the FAFSA is different than dependency status on federal income tax returns. It doesnât matter whether or not your parents claim you as a dependent (exemption) on their federal income tax return. Being a dependent on a tax return doesnât affect your dependency status on the FAFSA. The opposite is also true. Being a dependent on the FAFSA doesnât affect your dependency status on your parentsâ tax return.
Ultimate guide to retirement. Medicare is funded by the Social Security Administration. Which means it's funded by taxpayers: We all pay 1.45% of our earnings into FICA - Federal Insurance Contributions Act, if you're into deciphering acronyms - which go toward Medicare. Employers pay another 1.45%, bringing the total to 2.9%.
The Medicare trust fund finances health services for beneficiaries of Medicare, a government insurance program for the elderly, the disabled, and people with qualifying health conditions specified by Congress. It is financed by payroll taxes, general tax revenue, and premiums paid by enrollees. The Medicare trust fund comprises two separate funds. The hospital insurance trust fund is financed mainly through payroll taxes on earnings and income taxes on Social Security benefits. The Supplemental Medical Insurance trust fund is financed by general tax revenue and premiums paid by enrollees.