With the aging population becoming increasingly tech savvy, the Social Security Administration (SSA) has moved a lot of services online. From applying for Social Security benefits to replacing a card, the SSA has online tools to help.
The Social Security Administration has announced a 2.8 percent increase in benefits in 2019, the largest increase since 2012.
Reports of Social Security’s financial problems appear like clockwork, yet the agency’s enormous operational issues receive little attention. Long before 2034 – the currently projected year in which the program will run short of funds – the agency may cease to effectively serve the older and disabled Americans who depend on it for benefits that often are their only source of funds for housing, food and other necessities of life.
Getting the most you can from Social Security is an important part of ensuring your financial security after you retire. One goal that many people have is to retire early, and that can create financial challenges that you need to address before you pull the plug on your career once and for all.
Housing prices across the country are far outpacing the monthly benefits provided by Supplemental Security Income, according to a new report, forcing many people with disabilities into homelessness or costly institutional care.
In 2018, Social Security recipients will get their largest cost of living increase in benefits since 2012, but the additional income will likely be largely eaten up by higher Medicare Part B premiums.
This week, the Senate will do something it hasn’t done in seven years: hold bipartisan hearings on the future of the Affordable Care Act. Serious and creative ideas are expected to be presented but no real changes are expected. Experts close to the congressional process say that very few reforms have any chance of becoming law before insurers begin selling Obamacare plans for next year.
Disability benefits are available to qualified recipients under two programs, Supplemental Security Income (SSI) and Social Security Disability Income (SSDI). SSI is a means-tested program for people with disabilities who have very limited means, but SSDI is an insurance program that is available to qualified workers with disabilities regardless of their resources. As of November 2014, some 10.9 million disabled workers and their dependents were receiving SSDI benefits from Social Security.
Many people continue to work beyond retirement age, either by choice or out of necessity. But if you are receiving Social Security benefits, you need to be aware of how working can affect your benefit payments. Earning income above Social Security thresholds can cause a reduction in benefits and mean your benefits will be taxed.