Social Security Administration: No COLA Next Year The federal government programs that are in area to aid elderly residents need to not be overstated. When you function as well as pay your tax obligations, the FICA or self-employment tax obligation that you pay goes towards future Medicare and also Social Security qualification. Barry D. Horowitz, Estate Planning AttorneyBarry D. Horowitz is a founding companion in the legislation company of Nirenstein, Horowitz & Associates, P.C. The federal government programs that are in location to aid elderly people must not be overstated. When you function as well as pay your tax obligations, the FICA or self-employment tax obligation that you pay goes towards future Medicare and also Social Security qualification. Points are various with Social Security. In 2015, the typical month-to-month advantage for a solitary Social Security recipient is simply $1328, as well as the standard for a pair is$2176. Barry D. Horowitz, Estate Planning AttorneyBarry D. Horowitz is a founding companion in the regulation company of Nirenstein, Horowitz & Associates, P.C.