Social security in Sanama

The social security system in Sanama has undergone a rapid transformation since 1707. Increased taxation for top earners, a social security fund created with revenue from oil and natural gas sales, and a dedicated charge on stock trades of 0.5%, a 0.1% fee on bond sales and a 0.05% fee on derivatives, has increased the budget for social programs compared to the previous two regimes combined. During the communalist government, social security was run, with varying success, by the people's republics. Since 1707 social security is a national program. The system provides the following benefits:

• Health insurance: The government manages a basic health insurance scheme with elegibility for every citizen and legal resident. The insurance covers primary care, emergency care, both in- and out-patient care and laboratory tests and medication. Since 1717, enrollment can be done online, and the average annual cost is between R$2,400-3,600 depending on income and plan. There is also usually a copay for each procedure, also varying based on income and plan. There also exists several private plans, with costs ranging from R$3,600 to R$15,000. All hospitals, both private and public, are required by law to admit all persons for emergency care, and usually require a person seeking planned care to be covered by insurance provided by an affiliated insurer. Another popular insurance scheme is provided by SIC, Sanama Insurance Cooperative, consisting of its individual members, affiliated with a number of unions and non-profit healthcare providers.

• Unemployment benefits: Financial assistance for unemployed individuals is provided through Unemployment Funds, managed by various unions. To be eligible, an individual must be a paying member of the respective union, enrolled in the UF, and be a paying member for at least 12 months. Most UFs provide up to six months of benefits at 80% of previous salary, up to a certain cap. Most major UFs also allow members to pay an additional monthly fee to receive 80% of previous salary regardless of cap, with extended benefits to 12 months. Unemployed persons receiving benefits must actively seek employment and be available to work according to law.

• Retirement benefits: Both employees and employers are responsible for contributing to the social security fund for retirement. To be eligible to claim retirement benefits, a person has to have contributed to the fund for at least 120 months and be at least 63 years old. The amount of monthly benefits depend on the length of contributions, the total wages earned and the age at retirement. There are several private retirement schemes that supplement the government-funded system, one of the most popular is provided by SIC.

• Indigence support: The government provides a basic living stipend to indigent individuals and households. Per individual it amounts to about R$250 per day, about half the effective minimum wage. The cash transfer is aimed at providing a basic safety net for poor people, and providing a possibility for them get out of poverty. In addition to the basic living stipend, public hospitals are required to provide emergency care free of charge, as well as basic primary care. People receiving the stipend are required to either look for work or participate in activities to increase employability. Companies hiring people receiving the stipend get a tax credit for up to a year.