The required deduction for Social Security is 6.2% OASDI (Old Age Survivors and Disability Insurance) of wages earned, to a maximum of $97,500 and 1.45% HI (Hospital Insurance, commonly known as "Medicare") for all earnings.

Refer to the Social Security and Medicare information. Jamie Albertson earns a monthly salary of $8,500. Compute the amount deducted for Social Security and Medicare from Albertson's December paycheck.