Employers and anyone who works and pays taxes helps to pay for Medicare. Medicare is funded through payroll taxes, which are split down the middle between employers and employees.
Payroll taxes are also know as FICA taxes. Most employees pay 7.65% of their income in FICA taxes. Social Security consumes the first 6.20%. Medicare consumes the remaining 1.45%
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Payroll taxes are also know as FICA taxes. Most employees pay 7.65% of their income in FICA taxes. Social Security consumes the first 6.20%. Medicare consumes the remaining 1.45%