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What Is The Importance Of Social Insurance For The Elderly

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What Is The Importance Of Social Insurance For The Elderly
The Federal social insurance program (now referred to as “Social Security”) was introduced in 1935 as a response by the US government to the plight of the elderly. During the Great Depression nearly all of the elderly, along with spouses, children, and siblings were dependent on a single salary earning worker within the family. In addition to several other provisions signed into law by President Roosevelt for general welfare, the Social Security Act created a social insurance program designed to provided retired workers age 65 or older with a continued income after retirement. Providing benefits for the elderly was meant to reduce the economic hardships for not only the elderly but those they were dependent upon as
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