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 main difference between Social Security Disability Insurance and Supplemental Security Income is the revenue source through which they are funded. SSDI is funded through FICA and Social Security taxes. SSI is not financed through Social Security, but rather through general tax revenues. SSDI, or Social Security Disability Insurance, will help you if you have a long history of work, and you have paid into Social Security in prior work years.