Fica Limit 2024 Social Security Increase. We call this annual limit the contribution and benefit base. The medicare wage base will not have a dollar limit for 2024.

For 2024, the fica tax rate for employers will be 7.65% — 6.2% for social security and 1.45% for medicare (the same as in 2023). The additional medicare tax rate in 2022 is 0.9%.