Other, general social insurance

I’m a young American; I value Social Security; and this week in particular, I’m feeling reassured that Social Security is on solid footing and will be there for me when I need it. In fact, I see it as a great investment. 

To some, these statements might seem unrealistic, especially given all the negative media coverage that followed the release of the 2012 Social Security Trustees Report last week. But despite the doomsday responses, the reality is actually reassuring – especially for today’s young people, who are used to hearing misleading accounts to the contrary.

March 23^rd, 2012 will mark the second anniversary of the signing of the Patient Protection and Affordable Care Act (ACA). This legislation represents one of the largest and most comprehensive reforms to the American health care system since the enactment of Medicare and Medicaid in 1965. The ACA seeks to extend coverage to roughly 50 million uninsured Americans, slowing down the growth in the cost of health care, and improving the quality of care health care by changing the delivery system.

The young person’s debate on Social Security has been particularly one-sided lately.  Last fall at the Harvard Institute of Politics, I helped write and analyze a poll of over 2,000 young people ages 18-29.  We found that 78 percent of young people were concerned that the Social Security system would not be able to provide the benefits they expected when they retired.

Social Security is not in crisis, as Ken Buffin reminded us in his presentation at NASI's 24^th annual policy research conference on January 26 in Washington, DC. For the next 25 years, Old Age, Survivors, and Disability Insurance (OASDI) trust funds are 100% solvent, and beyond that window, 90% solvent for two more decades.

I was very excited to see NASI dedicate time to health disparities and determinants of health at this year’s conference, Social Insurance in a Market Economy: Obstacles and Opportunities, because it is important to have more conversations about how social insurance programs can help reduce health disparities.