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- If the employee is responsible for paying their portion of Medicare, the following adjustments will need to be created:
- Go to Core>Adjustments.
- Click Create.
- Enter the Employee, Payroll Item 692, Type of Amount Withheld, a Transaction Date, Amount equaling the calculated Medicare amount, and a Description for future reference.
- Click Save.
- Go to Core>Adjustments.
- Click Create.
- Enter the Employee, Payroll Item 692, Type of Board's Amount pf payroll item, a Transaction Date, Amount equaling the calculated Medicare amount, and a Description for future reference.
- Click Save.
Life Insurance amount of $100.00 x .0145 = $1.45
$1.45 Amount Withheld for 692
$1.45 Board's Amount of payroll item for 692
- If the Medicare is fully board paid (referred to as Medicare Pickup), then the following adjustment will need to be created:
- Go to Core>Adjustments.
- Click Create.
- Enter the Employee, Payroll Item 692, Type of Board's Pickup Amount of Payroll Item, a Transaction Date, Amount equaling the calculated Medicare amount, and a Description for future reference.
- Click Save.
$100.00 x .029 (.0145 x 2) = $2.90
$2.90 Board's Life Insurance Payment Withholding for 692