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The Medicare deduction in 2013 was 1.45% of an individual's wages or self-employment income. For high-income earners, an additional 0.9% was added for income over certain thresholds.
Medicare, like social security is a mandatory deduction.
Medicare Deduction -apex
what?
No
Medicare, like social security is a mandatory deduction.
The FICA -MC on your paycheck is a reference to the deduction for Medicare. The Medicare deduction should be 2.9 percent of your total earnings.
For 2012, the Social Security (FICA) deduction is 6.2%; the Medicare deduction is 1.45%, for a total of 7.65%. The employer pays the same percentages.
What of the following is not an optional deduction? A. Health insurance B. 401(k) C. Medicare D. Life insurance
No
Federal Health Insurance Deduction (medicare)
For 2012, the Social Security (FICA) deduction is 6.2%; the Medicare deduction is 1.45%, for a total of 7.65%. The employer pays the same percentages.
It's either Social Security, or a combination of Social Security and Medicare. Paycheck deduction statements may combine the individual FICA deduction for Medicare and Social Security into one deduction and call it "Retire". Rest assured that it's not YOUR retirement, and you'll never see that money again.