Chapter 14.pptx-2 - Chapter 14 Successful Aging Click to...

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Click to edit Master subtitle style 5/26/11 Chapter 14 Successful Aging
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5/26/11 2030 l P 533
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5/26/11 Social Security l Economic well-being of majority of older adults has never been better than now l Poverty rates for older adults 35% in 1959 and 9.4% in 2006 l Baby Boomers expensive: low
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5/26/11 l Starting in 1983, in the name of intergenerational fairness, Congress has made many changes to Social Security, Medicare and the Older Americans Act l Without changes, SS and Medicare expected to consume 13% of Gross Domestic Product (GDP)
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5/26/11 l SS started 1935 by President Franklin Roosevelt l Originally planned to provide a supplement to savings and other means of financial support l Now represents primary source of financial support
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5/26/11 P537 l SS is based on current workers paying a tax to pay current retirees l There will be twice as many people collecting SS per worker paying into the system in 2030
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5/26/11 Medicare l 40 million Americans depend on for Medicare l Criteria over 65, disabled or have permanent kidney failure l Like SS, funded by payroll tax
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This note was uploaded on 05/26/2011 for the course PSY 210 taught by Professor Carawilliams during the Spring '11 term at Moraine Valley Community College.

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Chapter 14.pptx-2 - Chapter 14 Successful Aging Click to...

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