Key Takeaway: To be eligible for Social Security Compassionate Allowance, an applicant must have a medical condition that is on the Social Security Administration’s list of Compassionate Allowance conditions. The application process for Social Security Compassionate Allowance can be done online or in person, and requires submission of several documents including medical records and a…
Key Takeaway: When your social security card says ‘valid for work only’, it means that you are authorized to work in the United States but are not eligible for other benefits, such as Social Security retirement benefits. A social security card is a government-issued identification card that is used to track your earnings and eligibility…
Key Takeaway: Understanding social security taxes: Social security taxes are paid by employees and employers to fund benefits programs for retired, disabled, and deceased workers. The tax rate is a fixed percentage of income up to a certain amount. Overpayment of social security taxes: Overpayment can occur if an employee has multiple jobs, changes jobs…
Key Takeaway: Social Security is a federal program that provides financial assistance to retirees, disabled individuals, and families of deceased workers. Social Security raise, also known as Cost of Living Adjustment (COLA), is an annual increase in Social Security benefits to account for inflation and rising living costs. To calculate your Social Security raise, you…
Image credits: retiregenz.com by Adam Arnold Determining eligibility for survivor’s benefits Survivor’s benefits from a deceased spouse’s social security depend on the length of the marriage and age requirements. To see if you’re eligible, find out more about the benefits based on these criteria. Dive into the details! Image credits: retiregenz.com by David Washington How…
Key Takeaway: Social Security may provide benefits for funeral expenses: Social Security may provide a one-time payment of $255 to survivors of eligible beneficiaries to help with funeral expenses. However, this payment is not available to everyone and may not cover all funeral expenses. Eligibility criteria for Social Security benefits: To be eligible for the…
Key Takeaway: To earn social security credits, you must work a certain period and pay social security taxes or receive non-work credits based on special circumstances such as being disabled or retired. The number of credits required to be eligible for benefits and the amount of benefits you receive are based on a complex formula…
Key Takeaway: It is important to sign your Social Security Card as soon as possible to ensure that your legal identity is established. Black or blue pens are recommended for signing your Social Security Card because they are the most permanent and readable colors. Using other colors may result in your signature becoming illegible or…
Key Takeaway: Social Security Child Survivor Benefits can be used for basic necessities such as food, housing, and clothing. These benefits can help ensure that the child’s basic needs are met. Educational expenses are also covered by these benefits, including tuition, books, and other school-related costs. This can help the child get a good education…
Key Takeaway: Substantial earnings refer to the minimum amount earned by an individual to qualify for Social Security benefits, which varies each year. Understanding the calculation of substantial earnings is crucial to determining eligibility and maximizing benefits. Non-substantial earnings are treated differently than substantial earnings and may impact retirement, disability, and survivor benefits. It is…
Key Takeaway: A social security annuity is a type of retirement income that is paid out by the Social Security Administration, and is designed to provide regular payments to retired or disabled individuals who meet certain eligibility criteria. Eligibility criteria for a social security annuity include factors such as age, work history, and disability status….
Key Takeaways: Title XVIII of the Social Security Act is also known as Medicare, a federal health insurance program for people aged 65 years and older, and for those with certain disabilities. The purpose of Title XVIII is to provide eligible individuals with access to affordable medical care, including hospital visits, doctor’s appointments, prescription drugs,…