FICA deducation = 240$ PRE-TAX MED INS = 134$ PRE TAX FSA = 90$ 1. what is FICA, where does the money go, and why wont i ever see it again? 2. Estimate annual premieum my health insurance charges my employer and explain why its taken out of my paycheck. 3. Why dont i purchase dental insurance?
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1. FICA is Social Security and Medicare payroll tax. You do not "get it back" but you will be eligible for those benefits in the future. 2. The full cost of the premium cannot be estimated based on the information you provide because we don't know what your cost share (%) of the premium is. 3. You tell us. Why don't you purchase dental insurance?
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