Medicare tax

{
  "id": "MLC-T-LAW-003207",
  "term": "Medicare tax",
  "field": "Law",
  "definition": "A federal payroll tax levied on wages and self-employment income to fund the Medicare program, which provides health insurance for the elderly and disabled. Employers and employees each pay a percentage of wages, with self-employed individuals paying both portions. The current tax rate for Medicare is 1.45% for employees and 2.9% for self-employed individuals, with no income limit.",
  "url": "https://mlchart.com/terminology/law/medicare-tax/"
}