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Workers’ Compensation and Social Security Programs

Learn about the history, benefits, and features of Workers' Compensation and Social Security programs. Explore mandatory insurance requirements, liability laws, types of benefits, and challenges faced by these social insurance programs.

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Workers’ Compensation and Social Security Programs

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  1. Social Insurance Chapter 11

  2. Programs • Social Security • Medicare • Unemployment Insurance • Workers Compensation

  3. Workers Compensation- History • Employer liability laws • Need to prove employer’s negligence • Common law defenses • Contributory negligence • Fellow servant rule • Assumption of risk

  4. Workers Comp - Principles • Absolute liability • Partial but final indemnity • Periodic payments • Part of the cost of operations • Mandatory insurance

  5. Benefits • Medical expenses • Disability • Total/Partial • Temporary/permanent • Survivor’s death benefits • Rehabilitation

  6. Features • Employee cannot sue • Benefits, coverage vary from state to state • Benefits are mandated • Some states have second injury funds • Some states cover disability not related to the job (Compulsory Temporary Disability Laws)

  7. Social Security/Medicare • Old-Age, Survivors’, Disability, and Health Insurance • Pay roll tax (15.3%) • Pay as you go system • Social security trust funds • Old age and survivors • Disability • Hospital insurance • Supplementary insurance

  8. Loss of benefits • Dependency status • Other income • Exempt income (pension, investment income) • Taxation of benefits • Does not go into general revenue

  9. Challenges • Can the system go broke? • Ratio of workers to retirees • Political decision making

  10. Unemployment insurance • State plans • Rationale for insurance • Market failure argument • “Employer paid” taxes • Experience rating

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