Health & Benefits

Social Security Administration (SSA) gives money to retired workers and their families. SSA also gives money to people with disabilities. 

Most workers pay into Social Security while they are working. Your pay stub shows deductions for the Federal Insurance Contributions Act, also known as FICA. As you work, you pay these deductions into the Social Security and Medicare systems. Whatever amount you pay for Social Security, your employer pays the same. SSA then uses that money to pay people who qualify for benefits. 

If you are self-employed, you also have to pay into the Social Security System. In general, the tax is 15.3%. If you are self-employed, consult a tax expert. 

The amount of money SSA gives you depends on the amount you and your employers paid while you were working. The amount also depends on whether you choose to begin receiving retirement benefits at age 62. You will receive less money if you start receiving benefits at age 62 than if you wait until you reach age 70. Each month that you wait to start your benefits, you receive a little more. You receive the largest monthly benefit if you wait until age 70. Do not wait until after 70 to start your benefits because your monthly benefit will not go up and you will miss out on benefits for the months after you turn 70. When the cost of living goes up, SSA adjusts the amounts of monthly benefits.

If you only worked for a short time during your life, you may not have paid into Social Security for long enough to get benefits. If that is your situation, you may be able to get Supplemental Security Income A federal program that gives money to low-income elderly, blind and disabled people on a monthly basis (SSI) benefits from Social Security. Learn more about SSI benefits.  

If a person dies, their surviving spouse, ex-spouse, child, or dependent A person who relies on another for support, such as a child or person with a disability parent may be eligible for survivor benefits. Learn more about survivor benefits on the SSA website.