Key Takeaway: The Social Security Red Book is a comprehensive guidebook published by the Social Security Administration that details eligibility criteria, qualifications, and guidelines related to Social Security Disability Insurance, Supplemental Security Income, Medicare, and Medicaid. The main purpose of the Social Security Red Book is to provide clear and concise information to individuals seeking…
Key Takeaway: Medicare and Social Security are facing financial problems: The increasing number of beneficiaries and rising healthcare costs are putting a strain on the funding of these programs. Solutions to save Medicare and Social Security include increasing revenue, reducing healthcare costs, raising the retirement age, and modifying benefits for high-income earners: These solutions can…
Key Takeaway: A Social Security check is a payment made by the government to eligible individuals to provide financial support. It is usually received monthly and can be used to cover living expenses such as housing, groceries, and medical bills. You can check the status of your Social Security check by creating an online account,…
Key takeaways: There are basic rules and eligibility requirements for working while collecting Social Security benefits. These include earnings limits and income thresholds that must be met. Working while collecting Social Security benefits can result in reduced benefits, tax implications, and overpayment and penalties. It is important to understand these consequences before making the decision…
Key Takeaways: Marriage does not require a new Social Security number: You do not need to get a new Social Security number when you get married. Your current number remains the same. You can change your name and keep your Social Security number: If you change your name after marriage, you can still keep your…
Key Takeaways: Social Security Disability benefit payments are made on a fixed schedule each month, based on the recipient’s birth date. The payment schedule can be found on the Social Security Administration’s website. There are various payment delivery options available, including direct deposit, a Direct Express debit card, or a paper check. Recipients can also…
Key Takeaway: Understand Social Security Benefits: Educate yourself on the different types of Social Security benefits available and how they can be misused in order to be better prepared to identify potential misuse. Recognize Red Flags of Misuse: Be alert for signs that Social Security benefits may be inappropriately used, such as sudden changes in…
Key Takeaway: An Advance Designee for Social Security is a person who has been designated to represent and assist an individual with their Social Security applications and benefits management. An Advance Designee is appointed by the individual and must meet certain requirements set by the Social Security Administration. The purpose of having an Advance Designee…
Key Takeaway: The Social Security Bonus is an additional payment that eligible individuals can receive on top of their regular Social Security benefits. To be eligible for the Social Security Bonus, individuals must have delayed claiming their benefits until after their full retirement age. This can result in a higher monthly benefit amount and a…
Key Takeaway: Social Security spending includes retirement benefits, survivor benefits, disability benefits, and Supplementary Security Income (SSI). The funding of Social Security benefits comes from payroll taxes, trust funds, and other sources of funding. Changes to funding and benefits may be necessary for the future of Social Security spending, with potential impact on both taxpayers…
Key Takeaway: Social Security is a government program that provides financial assistance to retired or disabled individuals, as well as their dependents and survivors. To be eligible for Social Security benefits, you must have earned enough credits through employment, and meet certain age and disability requirements. Your estimated Social Security benefits are calculated based on…
Key Takeaway: Open enrollment for Social Security is the time when eligible individuals can enroll in or make changes to their benefits, including Medicare, Social Security Disability, and retirement benefits. The enrollment period for Social Security typically runs from October 15th to December 7th each year, with changes taking effect on January 1st of the…