Employee Benefits: Social Security Programs Quiz

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What is the role of the Social Security program in reducing poverty among the elderly in the United States?

Tracking employees' wages for determining benefits

Issuing Social Security numbers to U.S. citizens

Offering retirement savings plans

Providing access to affordable healthcare services (correct)

What benefits were established by amendments to the Social Security Act?

Childcare Assistance and Disability Insurance

Survivors' Insurance and Disability Insurance (correct)

Survivor's Insurance and Retirement Savings Plans

Healthcare Subsidies and Unemployment Benefits

How do employees qualify for Old-Age, Survivor, and Disability Insurance (OASDI) benefits?

By paying Medicare taxes

By being a U.S. citizen

By having a high income level

By accumulating Social Security credits (correct)

What additional benefit was established as part of the OASDI by amendments to the Social Security Act in 1965?

Disability Insurance Signup and view all the answers

What is the purpose of the nine-digit Social Security number created in the late 1930s?

To track employees' wages for benefit determination Signup and view all the answers

Which federal agency oversees the administration of Old-Age, Survivor, and Disability Insurance (OASDI) and Medicare?

Social Security Administration and Centers for Medicare & Medicaid Services Signup and view all the answers

What type of benefits does Old-Age, Survivor, and Disability Insurance (OASDI) provide?

All of the above Signup and view all the answers

What does Medicare provide coverage for?

Hospitalization, convalescent care, and major doctor bills for those 65 and older, and disabled Social Security beneficiaries Signup and view all the answers

How does Social Security contribute to reducing elderly poverty in the United States?

By providing income support through programs like OASDI and Medicare Signup and view all the answers

What is described as the most important and effective income support program ever introduced in the United States?

Social Security Signup and view all the answers

What is the main purpose of establishing Social Security, Medicare, and Unemployment Insurance according to the text?

To reduce elderly poverty by providing financial support Signup and view all the answers

Which program covers Old-Age, Survivor, and Disability Insurance (OASDI)?

Social Security Signup and view all the answers

What is the role of Social Security in reducing elderly poverty?

Ensuring a source of income for retired individuals Signup and view all the answers

Which of the following is NOT a topic discussed in relation to the Social Security programs in the text?

Origins of Medicaid programs Signup and view all the answers

Why was Medicare established?

To ensure access to healthcare for individuals aged 65 and older Signup and view all the answers

What age can a worker start collecting retirement benefits according to the text?

61 years and 9 months Signup and view all the answers

When does a disabled worker begin receiving Social Security benefits?

After a five-month waiting period Signup and view all the answers

What is the Full Retirement Age (FRA) according to the text?

66 years old Signup and view all the answers

At what age can spousal benefits begin according to the text?

62 Signup and view all the answers

How does waiting until age 70 to apply for Social Security benefits affect payments?

Payments increase Signup and view all the answers