Most Insurers Limit Benefits from All Sources to No More

question 22

Multiple Choice

Most insurers limit benefits from all sources to no more than ____________ percent of your take-home pay.

• A)30-40
• B)40-50
• C)70-80
• D)60-70
• E)50-60

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Definitions:

Employer Payroll Tax

Taxes that employers are required to pay on behalf of their employees, including Social Security, Medicare, and unemployment taxes.

FICA Taxes

FICA Taxes are payroll taxes collected to fund the Social Security and Medicare programs, split between the employer and the employee.

Payroll Tax Expense

The taxes that employers are required to withhold and pay on behalf of their employees, including Social Security and Medicare taxes.

State Unemployment Taxes

Taxes paid by employers to the state to fund unemployment insurance programs for workers who have lost their jobs.