Social Security Administration (SSA)
Social Security Administration is a government agency which is independent from all branches of the government. It was formed on August 14, 1935. At present, its headquarters is located at Woodlawn, Maryland. With 62,000 employees under its name such agency handles the Social Security which consists benefits namely: disability, survivors and retirement. As how the agency gets the money to pay for those who will claim from such benefits enumerated? It will be through the workers earnings. They will pay a Social Security tax and such contributions will be placed in a trust fund. It is a mandatory contribution of which the self-insured, employees and employers pay.
Social Security Administration (SSA) coverage for the Social Security insurance program when it started covered almost all of the workers in the non-governmental sectors who are below the age of 65. Those who were under such program were under Medicare as well. There are workers who cannot avail of the Social Security since they are under different type of program. These are the railroad, local and state government workers. The restriction to age was then eliminated in 1939.
As of now, with the agreement between Social Security Administration and the state called the Section 218 Agreement, local and state government workers are now under the Social Security. Benefits such as disability, survivors and old age social insurance programs provide monthly benefits to the beneficiaries of the insured workers.
Without the Social Security Administration and its program Social Security insurance, the working force of America will not have a sense of security as they retire or be disabled. Everyone is working for survival and to support oneself and family. Not all the time the worker is healthy, young or in good fit in order to work, when emergencies or circumstances have it to interrupt or stop the person to work, through the Social Security insurance it will be a fall back. Since often always, income will deteriorate and most likely no income at all to support the family.
Health care is expensive in US, that is why through Medicare which the Social Security Administration includes in the system, those workers who can’t afford health assistance will still be attended to without the fear of having no money to pay for the total amount due. With the economy that US is experiencing right now, being safe and the assurance that when one will grow old and retire still he or she will reap the fruits of his or her labor through the benefits given monthly.