Federal Insurance Contributions Act
Jump to navigation
Jump to search
Introduction
Provides financing for Medicare through a mandatory payroll deduction Employers & employees pay 1.45% of wage earnings. Self employed persons pay 2.90%. In 1994, the income limits were eliminated, so that FICA is paid on all wages & self-employment income.
Additional terms
References
- ↑ Geriatrics Review Syllabus, American Geriatrics Society, 5th edition, 2002-2004