Medicare wages are employee earnings that are subject to a U.S. payroll tax known as the Medicare tax. Similar to the other U.S. payroll tax, Social Security, the Medicare tax is used to fund the government's Medicare program, which provides subsidized healthcare and hospital insurance benefits to people ages 65 and older and the disabled.
Original Article Source Credits: Investopedia , https://www.investopedia.com/
Article Written By: Julia Kagan
Original Article Posted on: Apr 25, 2021
Link to Original Article: https://www.investopedia.com/terms/m/medicarewages.asp