Question

Geoffrey is an employee of Adreez Inc. What percentage of his gross pay will the company deduct for the Medicare tax?

A.
1.45 percent
B.
2 percent
C.
2.45 percent
D.
3 percent
E.
3.5 percent

Answer 1

A. 1.45 percent

Step-by-step explanation:

Medicare is a federal health insurance program for the most vulnerable in society. It mostly caters to the elderly ( 65 years and above) and people living with disabilities. The federal government set the medicare tax rate. The current rate is 1.45 percent to the employee and 1.45 percent to the employer.