Sunday, April 27, 2014

Proper Planning to be Qualified for Medicaid and Protect Your Assets

Government benefit programs such as Lifeline Assistance, Supplemental Nutrition Assistance Program, Unemployment Benefits and Medicaid can help promote the well-being of our society and effectively develop our workforce. These four key programs help meet the basic needs of our society and look to improve the status of low income families and individuals in our country.The Lifeline Assistance Program has the objective of discounting phone services for low income consumers to provide the security and opportunity that go along with communication. The Supplemental Nutrition Assistance Program, or better known as food stamps, provides a discounted price on food for those who qualify. Unemployment benefits provide those who are laid off or are struggling to find a job some sort of income until they are able to get another job and begin to provide again. Lastly we look to Medicaid and how it is a government program for low income individuals to provide sufficient health care.

Economic prosperity comes from the individual. The stability of our economy is dependent on a strong, educated, healthy workforce and financial difficulties can cause instability with the personal foundation of individual participants. This instability in the personal foundations of individuals, if left unchecked, can erode the foundation of our entire national economy. Individual economies make up local economies which make up regional economies which make up our national economy. Weakness in the base means weakness in the whole.

The need for these programs speaks for itself in all of the benefits and necessities they provide for those who are unable to afford them. The Supplemental Nutrition Assistance Program is the best example of this because it aids in providing the inherent need for food. Established in 1939, it now offers millions of eligible people across the United States a hunger safety net. It is also very successful at targeting families across the country and without this program millions of adults
and children would go hungry.

The demand for employees and the status of the United States economy has a profound effect on the unemployment rate. In 2008 we went through the worst recession since the Great Depression and unemployment reached all-time highs. In times like these we rely on programs like the Unemployment Benefits Program to make sure those affected are still able to receive some level of income in order to continue purchasing goods and services for their families and themselves. This also translates to local economic success by increasing the circulation of money which eventually builds up to national economic success.

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Maxwell Boyum 25827 475th Ave Renner, SD 57055 605-332-6959 The Lifeline Assistance Program works hand in hand with the Unemployment Benefits Program by giving individuals in need with means to communicate. It is difficult if not impossible to find or keep employment without access to telephone communications. Also, access to a telephone offers stability and safety for individuals and especially families and children.

Finally Medicaid gives those who may not have health insurance or a sufficient health plan a fallback. It assists in paying medical bills which can get expensive for a possibly life changing event that they couldn’t have prepared for.

Increasing the effectiveness of these programs comes from an increase in the regulation of distribution of the money and resources. The economics behind these programs are very simple. Once we give these individuals enough money to rebuild their own economic situation will pay off not only for them but also the federal government. Another possible solution could come from a new stipulation that the individual has to pay back some if not all of the money the federal government provides. Similar to a loan there can be monthly payments with little or no interest rates, making it a manageable amount to repay. This puts a little money back into the pocket of the federal government for future programs and also motivates
individuals to work their way back up economically and hopefully get off of these programs. At the core these programs aren’t designed to be a sufficient source of income so tighter regulation and new legislation can make sure that these people are given the necessary funds during the times of their financial troubles but also making sure they striving to get off these programs. This makes governmental aid programs also a motivational concept because one cannot live on governmental aid alone so the goal is to be on these programs for as little time as possible. The investment and concentration on these programs have benefits that far outreach the costs or disadvantages.

The status of the United States economy is defined by the strength of its middle class and when we have a thriving middle class we see economic prosperity. Economic trouble seems inevitable and when those times do come around it is comforting to know that the government is there to assist but also motivates the individual to work their way back up the ladder to the status from which they came. That is why governmental assistance programs are a vital part of the United States economy and the overall well-being of the people that make it the prosperous and successful economy it can be.

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