Social Security Research Paper

President Obama signed the Affordable Care Act on March 23, 2010. This law puts in place widespread health insurance reforms that expanded out over the last 4 years and continues to change the lives of many Americans today. Health care reform has been an extensively debated topic for multiple years, and the ACA is the first effective attempt at passing a law aiming to make health care not only affordable, but accessible for all individuals. The law impacts many Americans including, children, employers, government programs which includes federal and state, health plans and private insurers, health care coverage, health care cost, and the quality of care received. The main goal of the law is to expand health care coverage, broaden Medicaid eligibility, minimize and regulate health care cost, and improve the health care delivery system. In order to improve the health care delivery there have been new consumer protections established and an increase access to affordable care.

Large populations of Americans are uninsured mainly because of the high cost of insurance. Majority of the uninsured are the low-income working families’. The adults represent a higher percentage of the uninsured than children. Before the law, you could be denied coverage or treatment because you had been sick in the past, be dropped mid-treatment for making a simple mistake on your application, hence, the Affordable Care Act was implemented into law on March 23, 2010 by President Barrack Obama to make sure that every American irrespective of their status will be insured and have full access to proper health care benefits, rights and protection(1). To understand the

The Affordable Care Act has made many positive changes for uninsured and underinsured citizens. With the addition of a program called Health Insurance Marketplace, it is now possible for uninsured people in every state to purchase private insurance plans, those making under 400% or less of the Federal Poverty Level will be able to have tax credits making insurance more affordable (Lathrop & Hodnicki, 2014). Insurance companies are no longer allowed to cancel a policy or raise rates when a client gets sick. Insurance companies cannot refuse coverage to individuals with preexisting conditions such as cancer (“Quality Improvement,” 2015). Insurance companies now must cover preventive care and screenings allowing diseases like cancer to be caught early (“Quality Improvement,” 2015). Research has shown that through health screenings

During the 1920’s, America was a prosperous nation going through the “Big Boom” and loving every second of it. However, this fortune didn’t last long, because with the 1930’s came a period of serious economic recession, a period called the Great Depression. By 1933, a quarter of the nation’s workers (about 40 million) were without jobs. The weekly income rate dropped from $24.76 per week in 1929 to $16.65 per week in 1933 (McElvaine, 8). After President Hoover failed to rectify the recession situation, Franklin D. Roosevelt began his term with the hopeful New Deal. In two installments, Roosevelt hoped to relieve short term suffering with the first, and redistribution of money amongst the poor with the second. Throughout these years of the

In 1930’s the Great Depression triggered a crises in the nation’s economic life. The Great Depression left millions of people unemployed and penniless. People consider leaving their farms behind to work in the cities factories to send money home. But as they grow into their new lifestyles the aging parent would stay behind to keep their dream of landowner ship. The seniors would be left in the hardest times of need living off the land. President Roosevelt’s New Deal was created to help jump-start the economy by providing unemployed workers with jobs and benefits packages for temporary relief. One of the many steps taken to alleviate the burden on the American people was the passing of Social Security Act on August 14, 1935 and its amendments by Congress and the President, Franklin D. Roosevelt.

During the 1920’s, America was a prosperous nation going through the “Big Boom” and loving every second of it. However, this fortune didn’t last long, because with the 1930’s came a period of serious economic recession, a period called the Great Depression. By 1933, a quarter of the nation’s workers (about 40 million) were without jobs. The weekly income rate dropped from $24.76 per week in 1929 to $16.65 per week in 1933 (McElvaine, 8). After President Hoover failed to rectify the recession situation, Franklin D. Roosevelt began his term with the hopeful New Deal. In two installments, Roosevelt hoped to relieve short term suffering with the first, and redistribution of money amongst the poor with the second. Throughout these years of the

In “The Social Security Problem”, Max Moore discusses the fearful reality of Social Security running out of funds. He states that the U.S. Department of the Treasury predicts that Social Security funds will run out by 2041 and action must be taken in order to prevent this (134). In his essay, he explains how the depletion of Social Security funds are a result from a decreasing retirement age, decreasing fertility rate, and shrinking work force. These things contribute to an increased population relying on Social Security, an increased population of the elderly, and a decreased ratio of workers paying for those beneficiaries (135). Moore explains the proposal of George W. Bush to make Social Security partially privatized; allowing young workers to invest their retirement savings into their own account. This would result in people putting their retirement on the line in

Since 1935, when Welfare was set in place and made known, Americans have been profoundly impacted in many ways. Not just the recipient 's economic state but also the society around them as a whole has been greatly affected as well. The Welfare system is constructed on the fundamentals of distribution and equality along with opportunities for individuals who cannot afford the minimum level of well-being in today 's economic society. There has been much controversy surrounding Welfare based on the beliefs of some that it is an outdated and obsolete system. “During the Great Depression of the 1930s, local and state governments, as well as private charities, were overwhelmed by needy families seeking food, clothing, and shelter” (“How Welfare

The solution to this daunting problem was to tax businesses. Payments to current retirees are financed by a payroll on current workers wages’ half directly as a payroll tax and half paid by the employer” (SCHC). “Congress” implemented strategically taking money from financial stable workers and their weather employer to give money to the elderly and physically impaired without hurting the financial stability of those taxed individuals. The government saw an opening for improvement with in their national support and took it for the betterment of the nation. The act also protects the and gives states money to support “unemployment insurance, aid to families with dependent children, maternal and child welfare, public health insurance, and blind services” (SCHC). The act expands on just the elderly receiving government assistance but all groups who can not provide for them selves due to uncontrollable circumstances that where originally caused by the governments neglect and the start of the great depression.

President Obama enacted the Affordable Care Act (ACA) in March 2010, in an effort to address the growing number of uninsured Americans. The Affordable Care Act would extend health coverage to millions of uninsured Americans and banned insurers from denying coverage to individuals with preexisting illnesses. The legislation extended coverage to an estimated 32 million of the nation’s 45 million uninsured people by expanding Medicaid, providing subsides to help low and middle income families purchase insurance, and through the creation of regulated insurance markets where people without insurance can purchase subsidized coverage.

Roosevelt and his Economic Crisis Committee, in 1935, came up with the simple idea of providing benefits to the generation of retired workers from tax money of currently working generation. Roosevelt put this straightforward idea into the system to make it work, and it surprisingly has worked out well so far. When the bill became a law in 1935, there were many people who were affected by the Great Depression and sought financial aid. Unlike the bank money that goes in loans and still depositor have access to the money; Social Security System passes out collected money immediately into benefits (“Social Security System”). This way, the working generation will always provide enough money to the fund. Rather than providing money from government fund, idea of benefiting citizens from their own money didn’t receive

The implementation of the Affordable Care Act (ACA), popularly known as “Obamacare”, has drastically altered healthcare in America. The goal of this act was to give Americans access to affordable, high quality insurance while simultaneously decreasing overall healthcare spending. The ACA had intended to maximize health care coverage throughout the United States, but this lofty ambition resulted in staggeringly huge financial and human costs.

Hoffman, M. R., & McKenzie, K. S. (2014). The Reality of Social Security: If Reform Doesn't Happen, What Must Each of Us Do?. Journal Of Accounting & Finance (2158-3625), 14(2), 124-134.

The affordable Care Act implemented in March of 2010 by president Obama reform the way health care was previously run in the United States. The law went into effect, which allowed many Americans who did not currently have insurance and health care coverage to the ability to purchase coverage and access to health care. “ According to the CDC “ the affordable care act of 2010 is designed to provide access to coverage for previously uninsured Americans “ Center of Disease Control (2014).

Before the 1930’s, the care for the elderly was of family or local concern. Following the economic crash of the Great Depression, some of the many “dangers” in life, including poverty, unemployment, and old age, were faced head on through the actions of the New Deal. The New Deal, created by President Franklin D. Roosevelt, set up a series of domestic programs to decrease unemployment rates and salvage what was left of the economy. The poverty rate of the elderly exceeded 50 percent and the stock market crash destroyed many Americans savings, thus the Social Security Act was created. This act provided aid to dependent children, unemployment and disability insurance, and pensions for the elderly. An issue with this system was that it might seem like a welfare program rather than an insurance program. To combat this issue, the social security funds would be from payroll taxes from employers and workers. Younger generations would finance the fund and would benefit from the system once they turned 65. Although this was a much-needed system, especially after the Great Depression, many still opposed this idea. People argued that this act would cause a loss of jobs and that it reeked of socialism. The argument was rebutted when proponents of the act proved how it would act as an incentive for the elderly to retire, thus creating more job openings for younger generations. A major downfall of this act rested on the shoulders of the women and