Respond to the same Option you chose for your Initial Post (i.e., if you chose Option 1 for your Initial Post, your Follow-Up Post should also be for Option 1). Respond to at least one peer. Further the dialogue by providing more information and clarification. Minimum of 1 scholarly source which can include your textbook or assigned readings or may be from your additional scholarly research.
Option 1 : Government Regulations and Social Insurance Programs
Social insurance programs have played a crucial role in addressing the needs of vulnerable people in America, such as the elderly, the disabled, and even those experiencing economic hardship. Through these programs, these vulnerable people have been able to secure a social safety net that has helped them to reduce poverty and improve their health outcomes.
For instance, Social Security has been effective in reducing poverty rates among older adults in the U.S. and this reduction has led to better health outcomes and improved quality of life for them (Herd et al., 2018). Similarly, Medicare has been instrumental in providing essential healthcare coverage for seniors and those with disabilities and it has helped to improve health outcomes (Ankuda et al., 2020). Unemployment compensation has also played an essential role in providing a safety net for individuals who have lost their jobs due to economic downturns or even job displacement.
However, these social insurance programs are also subject to various socioeconomic and political forces that can impact their effectiveness. For example, changes in the economy, such as the rise of the gig economy or automation, can make it harder for individuals to accumulate enough earnings to qualify for Social Security benefits. In the same vein, a pandemic like COVID-19 can impact social insurance programs like Social Security as the lockdown made it challenging for people to do business as usual, leading to the loss of jobs and profits (Blahous, 2020). Political ideological differences can also impact social insurance programs, as they can determine their continuity or discontinuity. As such, it is essential to continually evaluate and adapt these programs to ensure they remain effective and sustainable in the long term.
