The Social Security Act

The Social Security Act of 1935, signed by Franklin D. Roosevelt, created a program that included social insurance programs, as well as public assistance. Both programs came about due to the depression and were created as part of the New Deal to benefit the citizens who needed assistance. While both programs were created to assist the public, each program had different eligibility requirements and accomplished different tasks.

The impact of all of these options are huge because they affect every American. The options provided here are the 6 biggest options when it comes to Social Security. Now that everyone knows what might happen, lets talk more about the when. In 2010, the amount of money coming in was to small to pay back to people. Interest from the trust bonds was collected to help aid in maintaining full benefits. As a temporary solution, shaving the interest off the bonds would have been a great fix, but the original problem still exists. Nothing has been done to balance the money in to money out ratio. Unless Congress makes some big calls, in 2020, the SSA will be forced to sell their bonds. With the interest already being collected, and now the bonds being sold, the amount of money earning interest would severely drop.

The Social Security Act of 1965 established Medicare and Medicaid which are health insurance programs for the poor and elderly people of the United States. It is funded by a tax on the earnings of employees and contributions by the employers. “It is now broadly apparent that those who opposed Social Security in 1935 and Medicare in 1965 were wrong in their fears…” (Nicholas Kristof  “The Wrong Side of History”).

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.

Medicaid is a social health care program that covers nearly 60 million Americans, including children, pregnant women, seniors, parents and individuals suffering with disabilities. Medicaid is the biggest source of funding for health related services and medical needs for the people with low income in the United States. This program is funded jointly by the state and federal level governments, but it is the state’s responsibility to manage this program. The Medicaid program is not a required program that states have to use, but all 50 states have implemented this program. With the introduction of the Affordable Care Act (ACA), and its passing in 2010, the ACA unveiled its plans to expand Medicaid eligibility to nearly all low-income adults as an addition to the other groups that fall into the Medicaid eligibility. The Medicaid program had “many gaps in coverage for adults” because it was only restricted to the low income individuals and other people with needs in their own specific category. In the past, the majority of the states who had adults that did not have children dependent on those parents were not eligible for Medicaid. These low income adults without dependent children would be without medical insurance assistance before the ACA was introduced. Medicaid is now available to all Americans under the age of 65 whose family income is at or below the federal poverty guideline of “133 percent or $14,484 for an individual and $29,726 for a family of four in 2011” (NSCL).

During the Great Depression people lost their jobs and didn 't have money available when they retired. Franklin Roosevelt wanted citizens to have money available if they became unable to work anymore or not start work at all because of an unforeseen event in their life. By reading the debate and ideas of the Act, a better understanding of how the Social Security Act came to be can be gained. The Social Security Act was created in 1935 for people that are disabled who can 't work at all and for citizens that work to have money put into social security and available after retirement. It was used to help citizens after the Great Depression who lost their jobs. This act would help citizens that work to have benefits by having employers pay into a trust fund, so money would be available to employees after they retire or become disabled while working.

The CMS.gov website provides information about Medicaid, Medicare and related government programs ("Cms.gov centers for”) to beneficiaries and other interested parties. It is a federal government website, created by the Freedom of Information Act (FOIA), which made government information to the public. All information provided must meet government standards for content and accuracy. The information is kept current and is clearly labeled with publication or modification dates. The government agencies are clearly identified and in-text references are available when appropriate.

Throughout the early 1980’s and 1990’s the Federal Medicaid program was challenged by rapidly rising Medicaid program costs and an increasing number of uninsured population. One of the primary reasons for the overall increase in healthcare costs is the

The Social Security Act did dismiss the 1931 advertisement, as it was about the people helping out the poor, while the Social Security Act is government programs designed to help the poor. The act has a mandatory retirement age, in which the retirees will be awarded with a pension by the government, which both Senator Long and Francis Townsend mentioned. In the Townsend Pamphlet, one of the requirements was, “their past life is free from habitual criminality”, while in the Social Security Act it excluded agricultural, domestic service, and government workers. Senator Long proposed in his speech, “Share the Wealth”, anyone over the age of 60 receive a pension, while with the Social Security Act the age to receive pension is 65. There

The South Carolina Title XIX State Plan, also known as Medicaid, was designed to maintain the provision of “quality health care to low income, disabled, and elderly individuals” (South Carolina Department of Health and Human Services, 2016). The South Carolina Department of Health and Human Services (SCDHHS) acts as the designee for this administration, managing the state and federal reimbursement of funds for approved medical providers. Services are designed to provide services for diagnosis, treatment, and management of illnesses. The Management Care Organization program provides insurance coverage through a network comprised of contracted, providers who are paid a “per member per month capitated rate” (SCDHHS, 2016). These

In 1965, President Johnson signed Title XIX of the Social Security Amendments, which enacted Medicare and Medicaid (CMS, n.d.). Now, Medicaid is the single largest publically funded health coverage in the United States. The Medicaid program is federally and state funded. Currently, Medicaid covers 70 million Americans. Over 33 million children, 19 million low-income adults, and 16 million elderly or disabled persons are insured through the program. Medicaid also provides assistance to select Medicare beneficiaries, which is currently about 10 million individuals. Long-term care assistance is also a role of Medicaid, with 1.5 million institutional and 2.9 million community-based residents assisted. As visualized in Figure 1, of the almost 70

Medicaid provides a comprehensive benefit package for those who enroll. The federal government requires coverage of thirteen services, including inpatient and outpatient hospital services, nursing home and home health care, and for children under the age of twenty-one. The benefits do not end there, Medicaid offers a

The social security act was created by President Franklin D. Roosevelt so that he could put in place provisions in order to help the elderly. The social security act a document that helps impoverished citizens, such as the elderly and physically impaired receive benefits after retirement. Citizens’ in America during the great depression where expected to work weather elderly or physically disabled. These citizens weren’t afforded the financial stability to retire so work was a necessity to acquire money. “Prior to social security, the elderly routinely faced the prospect of poverty upon retirement” (U.S SSA). This effect of the great depression led to a lot death and homes turning into singled parent homes with no income. “The widespread

The most noticeable surviving act is the Social Security Act, which was part of the Second New Deal, made up of long-term relief policies as opposed to the First New Deal’s immediate relief policies. The Social Security Act established pensions, unemployment insurance, and welfare for the disabled. It was the first program of its kind, giving an economic relief to the elderly, unemployed, disabled, and dependent. A recent survey conducted by the National Academy of Social Insurance states that social security support “cuts across political parties, age groups, income levels, and race and ethnicity” ("Public Opinions on Social Security", 2012). Similar to the New Deal, President Lyndon B. Johnson enacted the Great Society programs from 1964-65.

To understand what the retirement earning test is and how it works, you must first understand how social security works. Social security in the United States of America is a program run by the government that provides income to millions of Americans who cannot work due to retirement, disability, or death (nasi.org). However the true function of Social Security is to provide supplemental income to people after retirement. It roughly replaces 40% of average worker’s income after retirement, requiring many social security receivers to continue working after their normal retirement age. How it works essentially is workers’ pay part of their income into a pool, that immediately gets disbursed to citizens getting benefits right now. They sacrifice a slice of their paycheck in the present, to be able to claim benefits when they go into retirement. The social security system has been changed constantly over the years. One thing that has not changed over the years, is the ability to claim benefits early.