Premium elasticity and buoyancy are similar notions that frequently used instead of each other in literature. But, in fact, these two terms are considerably different in meaning. While premium buoyancy involves the effects of the governmental arrangements, premium elasticity completely disregards the role of state. In this article, the effect of Turkish Social Security Reform on premiums is evaluated by elasticity and buoyancy method. The data set analyzed in the empirical study covers Gross Domestic Product and the premiums collected from private sector workers between January, 2003 and June, 2011. Results indicate that Reform strengthens the social security system by increasing the elasticity of the premiums.