Which of the following is true about the Old Age,Survivors,Disability,and Health Insurance (OASDHI)program?
A)Only about 50 percent of U.S.employees are covered by the program.
B)Federal,state,and local government employees account for a high percentage of employees covered under this program.
C)There are no eligibility requirements to be met by an individual to receive benefits.
D)Old-age insurance benefits for fully insured workers begin at the age of 50.
E)High earners help subsidize benefit payments to low earners.

Question

Quizplus · Accepted Answer

High earners help subsidize benefit payments to low earners through the progressive tax structure of the program, where individuals earning more pay a higher percentage of their income into the program. A is false as over 90% of US employees are covered by this program. B is partially true but does not account for the majority of covered employees. C is false as there are specific eligibility requirements such as having worked a certain number of years and paying into the program. D is false as old-age insurance benefits begin at the age of 62 or later depending on the year of birth.

Which of the Following Is True About the Old Age,Survivors,Disability,and