Social Security is the program designed to provide a financial backstop for low-income retirees and the disabled, and survivors of qualifying workers when they pass away. As of the end of Nov. 2014, some 59 million beneficiaries received benefits from the Social Security Administration.

Medicare is the healthcare program designed to help pay for the rising costs of treating our elderly and disabled. It comes in two parts: Part A, which is also known as hospital insurance, covers inpatient hospital care, skilled nursing care, and hospice care, while Part B, which is known as medical insurance, pertains to doctor visits, home health equipment, durable health equipment, and other healthcare provider services. As of 2013, approximately 52 million people were enrolled in the Medicare program, with over 43 million of those enrollees qualifying due to their age (which happens to be 65 and up).