Here are three of the more common types of professional liability insurance: 1  Malpractice insurance: This coverage is designed especially for medical professionals. It protects against suits that allege negligence or mistakes.
June 28, 2009. Besides regular income tax, federal laws require your employer to collect Social Security and Medicare taxes separately and send in the money to pay for your coverage under these plans. OASDI is the government acronym for Old Age, Survivor and Disability Insurance, better known as Social Security. Pay slip with pen and notebook.
What is OASDI/MED (FICA) The Federal Insurance Contribution Act (FICA) provides a system of Social Security and Medicare. benefits financed through taxes on employers and employees. FICA taxes and benefits consist of two. parts: Social Security or Old Age Survivors, and Disability Insurance (OASDI), and Hospital Insurance for. senior citizens and the disabled also known as Medicare (Med). The amounts deducted are set Annually by the Social Security Administration (SSA). OASDI is currently. 6.2% of Taxable Gross and MED is 1.45% of Taxable Gross. Each year the SSA set limits on the Taxable. Gross amount to be taxed for OASDI.