Quick question...do FICA taxes fund Medicaid? n/t

[Narkos]

[Kurt_and_Hunter]

1. I don't think soooo... but I may be wrong

[librechik]

2. no, it's a separate tax. Look on your W2 form. or you latest pay stub n/t

[Narkos]

4. I looked but I didn't seen anything about Medicaid specifically

[librechik]

7. My pay stub has a list of deductions from my gross pay. Fed Tax is top, then SS, then Medicare Tax

then my state income tax. Look in your deductions area, it should be separate.

[ParkieDem]

3. Yes.

FICA is the Federal Insurance Contributions Act. It mandates both the 6.2% Social Security, or OASDI taxes, as well as the 1.45% Medicare taxes.

On pay stubs, these are often separated out into separate OASDI and Medicare categories, but they are all under the FICA umbrella.

[Narkos]

5. I was asking about MEDICAID specifically..do all those funds come out of Medicare?

[MousePlayingDaffodil]

9. No, Medicaid (as opposed to Medicare) is not funded . . .

. . . through the FICA payroll tax. The funding for state Medicaid programs comes out general budget funds.

[ParkieDem]

6. Wait, scratch that ....

I thought you were talking about Medicare, not Medicaid. Medicaid is jointly funded by the feds and the states. I am not certain, but I believe the federal portion comes out of the HHS budget. From what I understand, a big chunk of most cigarette and liquor taxes to go Medicaid as well.

[Cleita]

8. I think it does partially, but it also gets funding from other sources.

Medicaid was written into the Medicare legislation so it shares funding. However, it's operated by the states that also must provide funds.

[county worker]

10. No FICA is social security.

Medicaid is a federal program which comes from income taxes.

[Hannah Bell]

11. No. FICA funds Social Security & Medicare. Medicaid is funded from general revenue (income tax)

at the federal level & various means at the state level. The feds & the states share funding responsibility for Medicaid funding.

[Statistical]

12. No medicaid is paid primarly by the states with some support from federal govt.

The federal govt portion comes from general fund.

Despite the similar name it has absolutely nothing in common (on the funding side) with Medicare.

[sinkingfeeling]

13. No, Medicaid is funded from general revenue.