The fica approach refers to the federal insurance contributions act, which requires employees and employers to contribute to social security and medicare. The fica approach aims to fund these government programs through payroll taxes. Both employees and employers are required to pay a percentage of the employee's wages toward these programs. The social security portion of the fica tax provides retirement, survivor, and disability benefits to eligible individuals. The medicare portion helps fund healthcare benefits for eligible individuals, primarily those who are 65 and older. The fica approach ensures that employees and employers contribute to these essential programs, which provide financial security and healthcare access for millions of americans. By adhering to the fica approach, individuals and businesses support the social safety net and ensure the sustainability of these critical programs.