Question

List five social insurance programs in the US.

Answer 1

Social insurance is a set of insurance programs that are administered by a government.

Five social insurance programs listed are as follows:-

• Old age, survivors, and disability insurance, medicare and unemployment insurance.
• These benefits consists of monthly payments to qualified beneficiaries who have retired.
• Who are disabled and unable to work.
• Or qualified families of deceased wage earners.
• Wage earners have been employed for a minimum amount of time.
• They are made contributions to the social security system through pay roll taxes.
• Social security disability insurance is eligible for the people who become unable to work because of disability.
• They are expected to be disabled for at least 12months before reaching the retirement age for retirement benefits.
• Disabled workers must have worked and paid in to the social security program for a minimum amount of time.
• The Amount of time depends upon the age of the worker at the time of becoming disabled.
• Medicare:-
• Is a social insurance benefit added to the social security program
• In 1965 and funded by a pay roll tax.
• Medicare provides health care for eligible participant.
• People who are 65 years of age are eligible.

Unemployment:-

• Unemployment insurance provides benefits,if an insured person becomes Unemployed.
• Only citizens that contribute to a social insurance program are eligible to receive benefits from the program.