Which statement is NOT true about social insurance programs?

The statement indicating that social insurance programs are for-profit is not true. Social insurance programs, such as Social Security and Medicare in the United States, are specifically structured to serve the public good and provide financial support or health care coverage to individuals during certain life events such as retirement, disability, or illness.

These programs are funded through taxes collected from workers and employers, and participation is often mandatory, meaning that individuals must contribute to the system to qualify for benefits. The benefits offered through these programs are also determined by federal laws, ensuring a standardized level of support. Social insurance programs focus on social welfare rather than profit generation, making them essential components of the safety net for citizens.