During National Social Security Month, we encourage people to take control of their future with my Social Security at www.socialsecurity.gov/ myaccount. Create a my Social Security account to check your earnings history, confirm you have enough credits to retire, see an estimate of future benefits while still working, or manage your monthly benefits once you begin receiving them. You can also check the status of your claim or appeal, request a replacement Social Security card, and get an instant benefit verification letter.
Our Retirement Estimator is another great tool that provides you with immediate and personalized benefit estimates based on your own earnings record. This allows you to receive the most accurate estimate of your future retirement benefits. Estimate your benefits now at www.socialsecurity.gov/ estimator.
What kind of questions do you and your friends ask about Social Security? When do my benefits arrive? What are Social Security work credits, and do they have anything to do with the way my benefits are figured? Will I be automatically enrolled in Medicare? Read on to find the answers to these questions.
1. Social Security benefits are paid in the month following the month for which they are due.
2. We don’t pay benefits for the month of death.
3. Survivors benefits can replace a percentage of the worker’s earnings for family members.
Work credits determine eligibility for benefits, but your lifetime earnings 1. are used to calculate your monthly benefit amount.
2. If you receive retirement benefits before you reach age 65, you will be automatically enrolled in Medicare.
Facts You Should Know About Enrolling in Medicare PartS A & B
Understanding Medicare isn’t as difficult as you might think. It’s a benefit most working Americans can count on. Here are some facts you might not know about the program.
Can I still get Medicare at 65?
Yes, you’re still eligible for Medicare starting at 65, no matter what year you were born.
If you or your spouse worked and paid Medicare taxes for at least 10 years, you’re eligible for Part A (hospital insurance) at age 65 for free. Part A helps pay for inpatient care in a hospital or skilled nursing facility following a hospital stay. It also pays for some home health care and hospice care. You’re also eligible for Part B (medical insurance) if you choose to get it and pay a monthly premium. Part B helps pay for services from doctors and other health care providers, outpatient care, home health care, durable medical equipment, and some preventative services. If you are receiving Social Security benefits already, you will be automatically enrolled in Medicare Parts A and B at age 65. Because you must pay a premium for Part B, you can choose to turn it down. However, if you don’t enroll in Part B when you’re first eligible for it, and choose to enroll later, you may have to pay a late enrollment penalty for as long as you have Part B coverage.
If you’re not receiving Social Security benefits, you have a seven-month period (your Initial Enrollment Period) to sign up for Part B. Generally, your initial enrollment period begins three months before your 65th birthday, includes the month you turn age 65, and ends three months after your birth month.
If you are covered under an employer group health plan, you may have a special enrollment period for Part B.
You can withdraw money from your HSA after you enroll in Medicare to help pay for medical expenses like deductibles, premiums, coinsurance, or copayments. If you’d like to continue contributing to your HSA, you shouldn’t apply for Medicare or Social Security benefits.
How Much Does Part B Coverage Cost?
You are responsible for the Part B premium each month. Most people will pay the standard premium amount, which is $134 in 2018 if you sign up for Part B when you’re first eligible. This amount can change every year. You can find up-to-date premium amounts on Medicare.gov.
HELPFUL FACTS ABOUT SOCIAL SECURITY DISABILITY BENEFITS
When the unexpected happens and you can no longer work due to a serious medical condition, Social Security is there with a lifeline to help you and your family.
Most American workers contribute to Social Security through federal payroll taxes and benefit through monthly retirement payments later in life. For others whose working years are cut short by severe and lasting illness or injury, Social Security provides financial assistance to help them through the critical times.
Here are six facts you should know about Social Security’s disability program:
Social Security disability insurance is coverage that workers earn. The program provides a safety net to disabled workers who’ve paid enough Social Security taxes on their earnings. Social Security disability benefits replace some of their income if their medical condition leaves them unable to work.
The Social Security Act defines disability very strictly. A person is considered disabled under the Social Security Act if they can’t work due to a serious medical condition that has lasted, or is expected to last, at least one year or result in death. Social Security does not offer temporary or partial disability benefits.
Disability can happen to anyone at any age. Serious medical conditions, such as cancer and mental illness, affect the young and elderly alike. One in four 20-year-olds will become disabled before retirement age and may need Social Security disability benefits’ critical support.
Social Security disability payments help disabled workers to meet their basic needs. The average monthly Social Security disability benefit is $1,197, as of January 2018. This amount helps disabled workers to meet their basic needs when they need that help the most.
Social Security works aggressively to prevent, detect, and help prosecute fraud. Social Security is committed to protecting your investment. Along with the Office of Inspector General, Social Security takes a zero tolerance approach to fraud. The result is a fraud incidence rate of a fraction of one percent.
RECEIVE SOCIAL SECURITY BENEFITS? keep your ADDRESS up-to-date WITH MY SOCIAL SECURITY
Keeping your address up to date with a my Social Security account helps us mail your important documents to the correct place. If you receive benefits, you can use my Social Security to update your address. If you’ve moved recently, updating your information sooner rather than later will help us deliver important documents to you, including:
o Your Social Security Benefit Statement (SSA-1099);
o Important notices; and
o Your Medicare card when you first enroll or if you need a replacement.
Even if you get your benefits by direct deposit, Social Security must have your correct address so we can send letters and other important information to you.