HR, Payroll and Benefits News

Social Security and Medicare Taxes for 2019

The Social Security wage base has risen to $132,900 in 2019 from $128,400 in 2018. This means that the first $132,900 of an employee's taxable wages are subject to Social Security taxes. You and the UW will each pay 6.2% on taxable wages up to $132,900.

An employee's entire taxable salary is subject to Medicare tax. Both the UW and the employee pay 1.45% on all taxable compensation. Further, any taxable wages that exceed $200,000 ($250,000 for married couples filing jointly) are subject to an additional 0.9% tax. There is no employer match for additional Medicare tax.

Source: UW Service Center