What are the OASDI and MED deductions on my paycheck?

  1. Old Age, Survivors And Disability Insurance (OASDI) tax is withheld for contributions toward your Social Security account for your retirement benefits, through the Social Security Administration. It is calculated at 6.2 percent of gross wages, minus pre-tax deductions, such as medical and dental premiums.
  2. Medicare tax (MEDI) is withheld for contributions to the social insurance system, better known as Medicare insurance. It is calculated at 1.45 percent of gross wages, minus pre-tax deductions, such as medical and dental premiums.