FICA deductions from your paycheck are for which mandatory federal insurance programs?

Question

Quizplus · Accepted Answer

FICA deductions from your paycheck are for both Social Security and Medicare, as these are mandatory federal insurance programs. Unemployment benefits are typically funded by a separate tax or insurance program. Medicaid is a joint federal-state program that provides health care coverage for low-income individuals and families, but it is not funded through FICA deductions.

FICA Deductions from Your Paycheck Are for Which Mandatory Federal