Entitlements

Business, Legal & Accounting Glossary

Definition: Entitlements




Full Definition of Entitlements


Entitlements are government benefits provided by law to eligible individuals. Entitlements are typically for citizens only. In the US, major entitlements include the Medicaid, Medicare, and Social Security programs. As the name implies, entitlements tend to become politically difficult to change, as recipients come to feel entitled to what they have been receiving. Without changes, entitlements expenditure is expected to grow significantly in the coming years. Of all the entitlements, Medicare is expected to escalate in cost the most quickly, primarily due to the combined effects of anticipated rising health care costs and the expanding senior citizen population. Over the long term, without entitlements reform, taxes will have to be raised significantly, discretionary spending will have to be sharply reduced, or both.


Cite Term


To help you cite our definitions in your bibliography, here is the proper citation layout for the three major formatting styles, with all of the relevant information filled in.

Page URL
https://payrollheaven.com/define/entitlements/
Modern Language Association (MLA):
Entitlements. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. September 24, 2021 https://payrollheaven.com/define/entitlements/.
Chicago Manual of Style (CMS):
Entitlements. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. https://payrollheaven.com/define/entitlements/ (accessed: September 24, 2021).
American Psychological Association (APA):
Entitlements. PayrollHeaven.com. Retrieved September 24, 2021, from PayrollHeaven.com website: https://payrollheaven.com/define/entitlements/

Definition Sources


Definitions for Entitlements are sourced/syndicated and enhanced from:

  • A Dictionary of Economics (Oxford Quick Reference)
  • Oxford Dictionary Of Accounting
  • Oxford Dictionary Of Business & Management

This glossary post was last updated: 9th February, 2020 | 2 Views.