Disability insurance is a program managed by which agency?

Study for the Finance and Investment Challenge Test. Approaches include flashcards and multiple-choice questions with hints and explanations. Ready yourself to ace the exam!

Multiple Choice

Disability insurance is a program managed by which agency?

Explanation:
Disability insurance in the U.S. is handled by one federal agency that administers the programs providing monthly benefits to workers who become disabled and meet medical criteria. This agency runs the Social Security Disability Insurance program for insured workers and the Supplemental Security Income program for certain low-income individuals with disabilities, handling applications, medical determinations, and ongoing benefit payments. The IRS is responsible for tax collection and tax-related programs, not disability benefits. The Department of Labor oversees workforce-related issues and unemployment programs, but not disability insurance. The Department of Education handles education-related matters and has no role in disability insurance program administration. Therefore, the agency that manages disability insurance is the Social Security Administration.

Disability insurance in the U.S. is handled by one federal agency that administers the programs providing monthly benefits to workers who become disabled and meet medical criteria. This agency runs the Social Security Disability Insurance program for insured workers and the Supplemental Security Income program for certain low-income individuals with disabilities, handling applications, medical determinations, and ongoing benefit payments. The IRS is responsible for tax collection and tax-related programs, not disability benefits. The Department of Labor oversees workforce-related issues and unemployment programs, but not disability insurance. The Department of Education handles education-related matters and has no role in disability insurance program administration. Therefore, the agency that manages disability insurance is the Social Security Administration.

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