11-EC202-Group-Debates-Instructions-2

11-EC202-Group-Debates-Instructions-2 - Social insurance is...

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Social insurance is one of the U.S. income-maintenance system programs. It is the major social insurance program because social security covers over 90 percent of the work- force. It replaces earnings that have been lost due to retirement, disability, or temporary unemployment. It also pays benefits to the families of workers who die and leave behind spouses, children under the age of 20, and sometimes other relations such as parents and ex-spouses. Each dependent receives about 75% to 100% of the deceased worker's basic Social Security benefit. However, there is a limit to the amount of money that can be paid each month to a family. In 2011, the annual limit is $14,160 if people are below full retirement age. In the year people reach full retirement age, the annual limit is $37,680. Distribution of benefits in 2009: Social Security benefits play a vital role in reducing poverty. Without Social Security, according to the latest available Census data (for 2008), 19.8 million more Americans would be poor. Although most of those kept out of poverty by Social Security are elderly, nearly a third is under age 65, including 1.1 million children. Almost 90 percent of people aged 65 and older receive some of their family income from Social Security. [1] Without Social Security benefits, 45.2 percent of elderly Americans would have incomes below the poverty line, all else being equal. With Social Security benefits, only 9.7 percent are poor. Some 13.2 million elderly Americans are lifted out of poverty by Social Security.
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Social Security is important for children and their families as well as for the elderly. About 6 million children under age 18 (8 percent of all U.S. children) lived in families that received income from Social Security in 2008, according to Census data. Over 3 million children received their own benefits as dependents of retired, disabled, or deceased workers. Others lived with parents or relatives who received Social Security benefits. In all, 1.1 million children are lifted out of poverty by Social Security.
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Medicare It is a Federal insurance program that provides health insurance benefits to those 65 or older and people who are disabled. In 2007, some 43 million people received Medicare benefits, and the benefits paid totaled $408 billion. Medicare Benefits http://www.medicare.gov/default.aspx?AspxAutoDetectCookieSupport=1 Medicare Part A (Hospital Insurance) Part A is hospital insurance that helps cover inpatient care in hospitals, skilled nursing fa- cility, hospice, and home health care. Most people don’t pay a Part A premium because they paid Medicare taxes while working. This is called "premium-free Part A." Medicare Part B (Medical Insurance) What Is Part B (Medical Insurance)? Part B helps cover medically-necessary services like doctors' services, outpatient care,
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11-EC202-Group-Debates-Instructions-2 - Social insurance is...

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