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24 Cards in this Set

  • Front
  • Back
1965...a national health insurance program for all people 65 or older who are eligible for social security
medicare
1965... health insurance for the poor
medicaid
1965... provides a larger number of services intended to enhance independent living, including meals, personal care, and nursing services, day care, chore services, and meals on wheels
older american act
anyone under 70 who earned more than $15 month forfeited all his social security benefits. eliminated in 2000
earnings test
amount of preretirement pay that is replaced by the social security benefit
replacement rate
aka old age assistance... a means test for the aged, blind, and diabled poor as social assistance
supplemental security income (ssi)
the tax treatment of contribution to pension funds. pension funds are (E)xempt from taxation, pension savings are(E)xempt from taxes, and benifits are(T)axed as they withdraw retirement
EET regime
Insurance policies that pay for health care expenses not covered by medicare
medigap policies
monthly benefit provided to disabled workers younger than 65
disability insurance
received by people who have been unable to work as a result of disabilities
ssi disability
most americans 65+ are able to care for themselves
true
* for workers
* provides economic security over the life course
* Medicare and disability insurance social security
Social insurance program
contributions that help pay for social insurance benefits
payroll taxes
everyone pays the same amount in taxes no matter what the income
regressive taxes
indirect payments to individuals through the tax system
fiscal welfare
fiscal welfare
* a special income tax implemented through a tax code. also known as tax breaks (health insurance, home mortgage interest)
tax expenditures
marked the initiation of the American welfare state and created Social security and old age assistance
social security act of 1935
provides income to retirees and benefits also help manage the exit of older workers from labor force
social security
converted to ssi in 1972 and provided for the aged poor who had not earned the right to social security benefits
old age assistance
provide income for workers of all ages who were unable to work
disability insurance
* for the poor
* based on a set of values that presume people suffer from lack of medical care, food, housing, and income
Social Assistance Program
to prove people are worthy of support
means test
Medicaid and Supplemental Security Income
types of social assistance
the higher the income, the higher the tax rate
progressive taxes