About This Chapter
Social Insurance Programs - Chapter Summary
Work through this chapter to study the different types of social insurance programs in the U.S. You'll examine the purposes, features, costs and benefits of social insurance and study specific programs, including Medicare, Medicaid. The chapter also examines social insurance needs for older adults and the history of Social Security. Upon completion of this chapter, you should be able to:
- Define social insurance and identify large federal social insurance programs
- Understand who Medicare and Medicaid serves and what the programs provide
- Assess the costs, problems and benefits of Medicare and Medicaid
- Outline the establishment of Social Security
Our expert instructors help you understand the most important information related to social insurance by breaking down key definitions and explaining concepts through illustrative examples. Following each lesson is a short quiz that's designed to reinforce your understanding of the lesson material. If you have a question about a particular concept, feel free to reach out to our instructors at any time. Lessons can be rewatched as many times as needed, and specific topics can easily be found by using interactive video timelines. This mobile-friendly chapter can be completed at your own pace, and you can study whenever it fits your schedule.
1. Social Insurance Programs: Definition, Types & Examples
Social insurance programs constitute the largest expenditure in the federal budget. In this lesson, you'll learn about social insurance, and we'll also take a look at the major federal social insurance programs. A short quiz follows the lesson.
2. Medicare and Medicaid: Definitions & Functions
This lesson will teach and define what Medicare and Medicaid are, what they are for, what they provide, and for whom they were established for. We'll also cover the four main parts of Medicare.
3. Costs and Problems of Medicare and Medicaid
In this lesson, you will tackle the question of why Medicare and Medicaid programs can be expensive and what solutions have been proposed to address this. We will consider the benefits provided by these services and the costs involved.
4. Social Insurance Programs for Older Adults
This lesson discusses the Social Security Act of 1935 and why a social insurance program for older adults was established. We explore this topic from the perspective of a family affected by the Great Depression.
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Other chapters within the Life & Health Insurance Exam Prep & Practice course
- Types of Life Insurance Policies
- Policy Riders, Provisions, Options & Exclusions
- Taxes, Retirement & Other Insurance Concepts
- Disability Insurance Policies
- Health Insurance Policies & the Government
- Provisions of Health Insurance Policies
- Health Insurance Rights & Benefits
- Insurance Applications & Underwriting
- Contract Law in Insurance