Social programs Dynamic not Static
Social programs ideally need to be understood as dynamic not static.
That is, we assume that societies will change in many ways such as age composition, disease patterns, and longevity to name a few examples. What modifications would you make to the Old Age, Survivors, Disability, Health Insurance Act (OASDHI — often referred to as Social Security) to be sure it remains able to pay out 100% of benefits? Click on the following url and play the actuaries’ fix social security game
Post what choices you made to get to the 100% solution and why. Did you find it difficult to decide the best solution?