What does "FICA-HI" stand for?

Answer by  dnc (146)

FICA stands for Federal Insurance Contributions Act and it is run by the Internal Revenue Service. HI stands for Medicare Hospital Insurance, a division of FICA. Basically, FICA-HI is Medicare.

Answer by  Afaq (83)

FICA is an acronym for "Federal Insurance Contributions Act (FICA)". HI is an acronym for "Hospital insurance". "FICA" are federal taxes for your Social Security and Medicare. FICA-HI is Medicare (Health Insurance. They take 1.45% of all of your earned income and do not get entered on your federal income tax return.

Answer by  Martinex8 (80)

This acronym refers to the Federal Insurance Contributions Act- Hospital Insurance. This is a tax that pays into Social Security and Medicare.