so does Fica cover ssi and medicare???

Answer 1

Sometimes employers combine SS and Medicare on your paystubs and just call it FICA. Social Security should be 6.2% of your income and medicare should be 1.45%. Check the percentage that is being withheld to see whether they are listing them together or separately.

Answer 2

Yes, the fice tax applies to the first $94,200 that you earn. The medicare tax applies to every dollar you earn. The fica rate is 6.2% for you and the same rate for your employer. The medicare rate is 1.45% for each of you. If you are self employeed you get to pay both shares.