Medicare Tax Rate 2024 Cap. For medicare's hospital insurance (hi) program, the taxable maximum was the same as that for the. The 2024 medicare tax rate is 2.9%.
6.2% for social security tax and 1.45% for medicare tax. In 2023, the medicare tax rate is set at 1.45%, which is matched by an additional 1.45% from employers, for a total of 2.9%.
