Week 12 Flashcards
When Medicare is included in the Social Security Act, the entire program is referred to as this
Old-Age, Survivors, Disability, and Health Insurance (OASDHI) program
An act that protects people who are 40 years of age or older from employment discrimination based on age
Age Discrimination in Employment Act of 1967
Public assistance for poor elderly people that was addressed in Title I of the original Social Security Act
Old Age Assistance program
An assistance program for the blind and disabled that became Title XVI of the Social Security Act
Supplemental Security Income for the Aged, Blind, and Disabled (SSI)
Established the Administration on Aging and ensured the well-being of older persons with programs that included in-home services, transportation, legal assistance, and outreach
Older Americans Act of 1965
Programs of the OAA are facilitated and monitored by these distinct planning and service areas
Area Agencies on Aging (AAA)
Emerged at the state level during the 1970s and the first programs were funded by the social security monies of Title XX of the Social Security Act. Created units in each state that receive some funds from the OAA
Adult Protective Services
A form of retirement savings and can be one of two types: defined contribution and defined benefit
Pension
Often called “traditional pension plans”; provides employees with a guaranteed level of retirement income based on years of service. Insured by the federal government through the Pension Benefit Guaranty Corporation
Defined Benefit (DB) plans
The most popular form of this plan is the 401(k) plan. Employees must contribute a portion of their income to an individual account. These plans do not provide a guaranteed level of retirement income because they are not insured. They rely on private investment programs such as stock market-based mutual funds to create income growth
Defined Contribution (DC) plans
Allowed for most seniors today to have some form of insurance for prescription drugs
Medicare Modernization Act of 2003
Covers a wide array of services for elderly, chronically ill, and disabled persons. The services are necessary for day-to-day living and personal care. Although Medicare covers some of the costs, it does not cover all of them
Long-term care
An act that offers 12 weeks of unpaid leave, which can be used to care for an ill family member. Although the legislation preserves a person’s job while they are gone, the leave is unpaid, making it difficult for many workers to take advantage of the policy
Family and Medical Leave Act
