Which of the following statements is true?
A. FICA withholding goes to pay federal and state income taxes.
B. FICA withholding goes only to pay social security.
C. FICA withholding goes only to pay Medicare.
D. FICA withholding goes to pay social security and Medicare.
3 answers
D. FICA withholding goes to pay social security and Medicare.
What is the role of Medicare today?
The role of Medicare today is to provide health insurance for individuals who are 65 years old or older, as well as certain individuals with disabilities or end-stage renal disease. Medicare helps cover the costs of various medical services, including hospital stays, doctor visits, prescription drugs, and preventive care. It is a federally administered program that aims to ensure access to affordable healthcare for eligible individuals.