Social Security Disability Insurance

Medicare A Federally administered health insurance program covering the cost of services for people 65 years of age or older, receiving Social Security Disability Insurance payments for at least two years, or with end-stage renal disease. Medicare consists of two separate but coordinated programs-hospital insurance (Part A) and supplementary medical insurance (Part B). Health insurance protection is available to insured persons without regard to income. 

The process that classifies injuries as Nil, PPD, or PTD is imperfect because workers have the best information on the true cause and extent of their injuries, workers have the financial incentive to exaggerate injury severity, and firms have the financial incentive to classify injuries as unrelated to work or less severe than the injuries are. One study of Social Security Disability Insurance (SSDI) found that a second evaluation team would reclassify one-fifth of eligibility rulings (Parsons 1984). Providers of WC face a more complex decision process than in the case of SSDI because injuries compensable under WC need to have occurred in the course of employment. 

We emphasize that workers compensation insurance differs from social insurance under Aid to Families with Dependent Children or Social Security Disability Insurance, which are available as income support to persons with generally low incomes. Injured workers receive no-fault insurance coverage in exchange for the inability to sue their employers under tort laws. 

As mentioned the disability insurance provided workers under WC is largely confined to injuries due to accidents. Industrial diseases are covered under Social Security Disability Insurance, which gives employers no financial incentives to improve worlq>lace health and safety. 

Disability. If you are a 42-year-old man, you are four times more likely to become disabled for three months or longer before retirement than you are to die. This can be devastating for your retirement plans. However, after retirement, you probably won t need to continue this coverage. Check with your employer to see what coverage is available under a group plan. Also, investigate Social Security disability benefits and how your employer s plan coordinates with these benefits. You may find you have sufficient coverage or you may need to buy additional insurance until you retire. 

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Payroll charges. These include paid vacations, pensions, group insurance premiums, disability pay, social security premiums, and unemployment taxes. Estimate these as 30 to 35% of the labor plus supervision expense. 

At the beginning of the industrial era a person had to rely on his own resources, on the assistance of his family, or on private or public relief for dealing with the various vicissitudes of life—illness, disablement and old age. With the introduction of health insurance in 1883 and of accident insurance in 1884, Germany was the first country to give the worker a legal claim to the aid of the State in illness and occupational accidents. Disablement and old age insurance followed in 1891. As in other industrial nations which followed this example, social security was at first restricted to certain classes of persons and to assuring the minimum required for existence. 

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