The Effectiveness Of Social Insurance Programs Discussion

The Effectiveness Of Social Insurance Programs Discussion

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The social insurance systems in the United States comprise a set of programs that offer economic security in the short term to improve economic opportunity in the long term. According to Zhao (2017), the United States spends a large amount of its GDP on these programs compared to some single public programs, such as Medicare. The spending on social insurance programs is justified as the programs have improved individual welfare, particularly those in poverty. Zhao (2017) states that social insurance improves an individual’s welfare by ensuring the insurance of poor households. Despite its efficacy in improving the welfare of people with low incomes, the healthcare programs and social security are yet to achieve their full desired objectives. A study by Shahidi et al. (2019) revealed that despite social support, the recipients experience worse health outcomes, health inequalities, and adverse socioeconomic status. As such, the federal and state governments must work together to develop policies that improve social insurance programs to help achieve their intended purpose The Effectiveness Of Social Insurance Programs Discussion.

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Effect of Political and Socioeconomic Forces on Social Insurance Programs

A country’s political and socioeconomic status is the driving force of any successful support program in the United States. Politics affect social insurance programs in that each government regime employs a different public pension unit. Therefore, the taxes and pensions may change with each new government, affecting the programs. Socioeconomic status also affects the programs such that based on economic stability will determine the share of labour incomes and taxes collected. When the taxes collected are smaller than the international; standards, they become insufficient for eligible populations and vice versa. The Effectiveness Of Social Insurance Programs Discussion

References

Shahidi, F. V., Ramraj, C., Sod-Erdene, O., Hildebrand, V., & Siddiqi, A. (2019). The impact of social assistance programs on Population Health: A systematic review of research in high-income countries. BMC Public Health, 19(1). https://doi.org/10.1186/s12889-018-6337-1

Zhao, K. (2017). Social Insurance, private health insurance and individual welfare. Journal of Economic Dynamics and Control, 78, 102–117. https://doi.org/10.1016/j.jedc.2017.03.004 The Effectiveness Of Social Insurance Programs Discussion