Homework Question on Social Security Act
- Write a 2 page essay response to this question: What where the effects of excluding a health insurance provision from the Social Security Act?
- How could we have changed our future? (Be specific in your response and provide examples (e.g. funding, tax structure, etc).
Homework Answer on Social Security Act
The Social Security Act was enacted as a law in 1935. Franklin Roosevelt signed the act into a law signifying a historic legislative accomplishment in United States. The act enabled formulation of various programs aimed at aiding citizens in United States. The Social Security Act title was derived from a social insurance program. The program was designed, formulated and implemented to offer Americans with a steady source of income among workers aged above sixty five years.
Thus, it aimed at providing a source of material needs for retired workers to lead a comfortable life together with their family members. It is regarded as a humanitarian Act inclined to Americans seeking social acceptance and security. Since it was enacted, the act has undergone various subsequent amendments. Consequently, it has faced problems such as socio-economic issues due to economic depression (OIG, 2012).
In 1930s, a great economic depression left numerous citizens unemployed with neither savings nor a source of income. The rate of unemployment increased to 18.2 percent in average as the economy continued to decline. The poor, unemployed and elderly retired workers suffered greatly. In 1977, Medicare-Medicaid Antifraud and Abuse Amendment under the Public Law 95-142 was implemented. The office of Inspector General (OIG) located in the Department of Health identified fraud, wastage and abuses. These issues were identified in departmental social security programs enacted to promote effective and efficient economical operations.