14Unemployment Insurance, Disability Insurance, and Workers’ Compensation（课件）- 《财政与金融》同步教学（人民大学·第五版）

14 14.1 Institutional Features of Unemployment Insurance, Disability Insurance, and Workers’ Compensation 14.2 Consumption-Smoothing Benefits of Social Insurance Programs 14.3 Moral Hazard Effects of Social Insurance Programs 14.4 The Costs and Benefits of Social Insurance to Firms 14.5 Implications for Program Reform 14.6 Conclusion Unemployment Insurance, Disability Insurance, and Workers’ Compensation 1 of 36 1 14 In 2009, over 15 million Americans were out of work. The national unemployment rate was 9.8%, and unemployment insurance coverage lasted 26 weeks. The Extended Unemployment Compensation program was passed and extended these benefits temporarily. As the recession persisted, the EUC program was extended as the Worker, Homeownership, and Business Assistance Act of 2009 was signed into law. This law extended unemployment benefits through 79 weeks, depending on the state of the worker’s residency. Introduction: Unemployment Insurance and the Great Recession of 36 C H A P T E R 1 4 ■ U N E M P L O Y M E N T I N S U R A N C E , D I S A B I L I T Y I N S U R A N C E , A N D W O R K E R S ‘ C O M P E N S A T I O N 2 14 The EUC program was again revised through the Unemployment Compensation Extension Act of 2010 and the Middle Class Tax Relief and Job Creation Act of 2012. Benefits would now be guaranteed up to 99 weeks depending on state of worker residency and enrollment time. Senator Rand Paul (R-KY) said, “When you allow people to be on unemployment insurance for 99 weeks, you're causing them to become part of this perpetual unemployed group in our economy." By the end of 2013, the EUC ended and benefits returned to 26 weeks. Despite some attempts to push through federal extensions of unemployment insurance, the term of coverage has remained at this original level. Introduction: Unemployment Insurance and the Great Recession of 36 C H A P T E R 1 4 ■ U N E M P L O Y M E N T I N S U R A N C E , D I S A B I L I T Y I N S U R A N C E ,