What two federal taxes are included in FICA?

FICA, or the Federal Insurance Contributions Act, includes two federal taxes: Social Security tax and Medicare tax. The Social Security tax funds the Social Security program, which provides retirement, disability, and Survivor benefits. The Medicare tax helps fund the Medicare program, which offers health insurance for individuals aged 65 and older, and for some younger people with disabilities. Both taxes are typically deducted from employees' wages and matched by employers.