Mike Is 60 Years Old and Knows There Are Differences

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The Answer is The Social Security Act of 1935 was the establishment of old-age insurance and unemployment insurance.The act was later amended to add survivors insurance,disability insurance,hospital insurance,and supplementary medical insurance.Together these provisions constitute the federal Old Age,Survivors,Disability,and Health Insurance (OASDHI)program.Over 90 percent of U.S.workers are covered by this program,the main exceptions being railroad and federal,state,and local government employees.An individual employee must meet certain eligibility requirements to be covered.To be fully insured typically requires 40 quarters of covered employment and minimum earnings of $1,300 per quarter in 2017.Social Security retirement (old-age insurance)benefits for fully insured workers begin at age 65 years and 6 months (full benefits)or age 62 (at a permanent reduction in benefits)for those born in 1940. <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB5542/11eaafa1_3edb_34ac_892c_2da56683d734_TB5542_00.jpg" alt="The Social Security Act of 1935 was the establishment of old-age insurance and unemployment insurance.The act was later amended to add survivors insurance,disability insurance,hospital insurance,and supplementary medical insurance.Together these provisions constitute the federal Old Age,Survivors,Disability,and Health Insurance (OASDHI)program.Over 90 percent of U.S.workers are covered by this program,the main exceptions being railroad and federal,state,and local government employees.An individual employee must meet certain eligibility requirements to be covered.To be fully insured typically requires 40 quarters of covered employment and minimum earnings of $1,300 per quarter in 2017.Social Security retirement (old-age insurance)benefits for fully insured workers begin at age 65 years and 6 months (full benefits)or age 62 (at a permanent reduction in benefits)for those born in 1940.  " class="answers-bank-image d-block" rel="preload" >

Mike Is 60 Years Old and Knows There Are Differences

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