Fica Medicare Percentage 2024 Olympics. The federal insurance contributions act (fica) helps generate funding for the nation’s largest social insurance programs: In 2024, the medicare tax rate is 2.9%, with half (1.45%) paid by the employee and the other half (1.45%) paid by the employer.
The medicare tax rate for 2024 remains at 1.45% of all covered earnings for employers and employees. In 2024, the medicare tax rate is 2.9%, with half (1.45%) paid by the employee and the other half (1.45%) paid by the employer.