Do you know that the Social Security Law dates back to 1935 under the leadership of Roosevelt? The need for aid in favor of the working citizens of our country have already been addressed as early as the 1930s. The government acknowledges the fact that the working masses are one of the driving force fueling the country’s stability. Hence, in case some of these working masses come across difficulties at some point in time, like disability due to accident or injury, the government made sure that these people are given aid to help them get back on their feet or at least given rewards in the form of living allowance to continue their decent way of life.
The Social Security Act was signed by President Lyndon Johnson on July 30, 1965. The Social Security Act paved the way to two different programs for the benefit of the members, the Medicare and Medicaid which are all familiar with even today.
Medicare was formulated to solve the problems facing the elderly citizens. Most of the elderly have no health insurance back then. Medicare was therefore made to provide health insurance for them. Aside from this, Medicare provided health insurance to those who are under 65 years old but are afflicted with disability.
On the other hand, Medicaid was created to resolve the lack of insurance of the poor families, parents and children alike as well as people who are disabled who cannot afford insurance.
At present, Social Security’s scope has evolved. It does not only provide health insurance but also pensions and death benefits.
The Social Security Act was signed by President Lyndon Johnson on July 30, 1965. The Social Security Act paved the way to two different programs for the benefit of the members, the Medicare and Medicaid which are all familiar with even today.
Medicare was formulated to solve the problems facing the elderly citizens. Most of the elderly have no health insurance back then. Medicare was therefore made to provide health insurance for them. Aside from this, Medicare provided health insurance to those who are under 65 years old but are afflicted with disability.
On the other hand, Medicaid was created to resolve the lack of insurance of the poor families, parents and children alike as well as people who are disabled who cannot afford insurance.
At present, Social Security’s scope has evolved. It does not only provide health insurance but also pensions and death benefits.
