What Does It Mean for a Social Safety Net Program

question 84

Essay

What does it mean for a social safety net program to be means-tested? How would Medicare change if it became a means-tested program? How would this change affect the cost of the program?

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Definitions:

Merchandising Companies

Businesses that purchase goods in a finished state and sell them as is, making profits from the sales margin.

Insurance In Transit

Coverage that protects goods from loss or damage while they are being transported from one place to another.

FOB Shipping Point

A term used in shipping indicating that the buyer assumes responsibility for the goods and shipping costs the moment the goods leave the seller's premises.

Merchandise Inventory

Goods and products that a firm holds with the intent to sell them as part of its business operations; considered a current asset on the balance sheet.