The history of the Affordable Care Act â The Patient Protection and Affordable Care Act was signed into law by President Obama on March 23, 2010. It is more commonly known as the Affordable Care Act (or ACA) â and itâs most commonly referred to by its nickname, Obamacare.
Federal Insurance Contributions Act (FICA) tax /ËfaÉªkÉ/ is a United States federal payroll (or employment) tax imposed on both employees and employers to fund Social Security and Medicare âfederal programs that provide benefits for retirees, the disabled, and children of deceased workers.
November 23, 2009. The Federal Insurance Contributions Act regulates Social Security and Medicare taxes. Employers generally must withhold these taxes from employees' paychecks. Your Social Security and Medicare withholding often show on your pay stub as FICA. A typical pay stub or bank statement.