What provides financial support to workers who are retired or have disabilities? Medicare Social Security tax withholdings Medicaid

Social Security is a vital program that provides financial support to retired workers and those with disabilities, helping them maintain a basic standard of living. Established in 1935, it collects funds from workers' paychecks through payroll taxes and delivers benefits based on earned credits over a lifetime of work. This safety net not only aids individuals but also stimulates the economy as retirees spend their benefits. Medicare, on the other hand, is a health insurance program primarily for people aged 65 and older, as well as certain younger individuals with disabilities. While it doesn't provide direct financial support like Social Security, it covers various medical expenses, relieving some of the financial burden that can accompany retirement or a disability.