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24 Cards in this Set
- Front
- Back
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1965...a national health insurance program for all people 65 or older who are eligible for social security
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medicare
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1965... health insurance for the poor
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medicaid
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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
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older american act
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anyone under 70 who earned more than $15 month forfeited all his social security benefits. eliminated in 2000
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earnings test
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amount of preretirement pay that is replaced by the social security benefit
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replacement rate
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aka old age assistance... a means test for the aged, blind, and diabled poor as social assistance
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supplemental security income (ssi)
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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
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EET regime
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Insurance policies that pay for health care expenses not covered by medicare
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medigap policies
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monthly benefit provided to disabled workers younger than 65
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disability insurance
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received by people who have been unable to work as a result of disabilities
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ssi disability
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most americans 65+ are able to care for themselves
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true
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* for workers
* provides economic security over the life course * Medicare and disability insurance social security |
Social insurance program
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contributions that help pay for social insurance benefits
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payroll taxes
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everyone pays the same amount in taxes no matter what the income
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regressive taxes
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indirect payments to individuals through the tax system
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fiscal welfare
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fiscal welfare
* a special income tax implemented through a tax code. also known as tax breaks (health insurance, home mortgage interest) |
tax expenditures
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marked the initiation of the American welfare state and created Social security and old age assistance
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social security act of 1935
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provides income to retirees and benefits also help manage the exit of older workers from labor force
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social security
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converted to ssi in 1972 and provided for the aged poor who had not earned the right to social security benefits
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old age assistance
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provide income for workers of all ages who were unable to work
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disability insurance
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* 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
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to prove people are worthy of support
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means test
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Medicaid and Supplemental Security Income
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types of social assistance
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the higher the income, the higher the tax rate
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progressive taxes
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