Employer Fica And Medicare Rates 2024-23. The tax is applied to wages, salaries, and other compensation within certain thresholds, which are adjusted periodically. Under current law, the tax rate will remain the same at the rate of.

The cost of medicare part a deductible, part b and part d are all rising. Fica requires that 7.65% of an employee’s gross wages get deducted for payment to the federal government, with employers required to match the withholding.