Risk Management

A widow or widower of a fully insured deceased worker is qualified for benefits at age fifty, if disabled.

A beneficiary attaining the normal retirement age after 2002 is exempt from reduction of Social Security benefits regardless of the amount of earned income.

The combination of Part C Medicare Advantage plans with Part D prescription drug benefits are known as Medicare Advantage Prescription Drug plans.

Both Social Security and Medicare programs face a long-term financing gap.

Anyone who is eligible railroad retirement benefits at age sixty-five is also eligible for Medicare Part A.

Through Medicare Part D, eligible participants can elect to receive the benefits of Medicare Parts A and B through private health plans, in addition to certain items not covered by Medicare Parts A and B.

Like social insurance, employers and employees pay into the public assistance system to earn their rights to benefits.

For an individual retiring past the normal retirement age, the final benefit amount is equal to what the PIA formula reveals.

Wages beyond the threshold are not subject to the Medicare Part A tax, but they are subject to the OASDI tax.

The current generations of taxpayers are confident about the ability of the Social Security system to deliver benefits at current inflation-adjusted levels.

The current Social Security benefit levels cannot be maintained without raising Social Security withholding taxes or extending the normal retirement age.

Social insurance is also referred to as public assistance.

Normal retirement age for the purposes of Social Security ranges from sixty-two to sixty-five.

The insurance principles of assessing and pooling risk do not apply to welfare programs.

Social Security is need-based and does not depend on a person's employment history.

A fully insured worker is entitled to receive reduced benefits for Social Security, if he retires at the age of sixty-two.

If an individual qualifies as both a worker and as the spouse of a worker, the beneficiary will receive whichever primary insurance amount is greater, but not both.

In the last two decades, Social Security taxes have increased much faster than the general level of prices, but not as fast as the cost of health care.

The bend points decrease as average wages in the economy increase.

Both public assistance programs and social insurance programs are organized and undertaken by the government and have the broad social purpose of reducing want and destitution.