Besides Medicare, there are other types of insurance you can consider. Down below we will talk about additional benefits provided by Social Security that you might be eligible for.
Social Security is a program led by the federal government which provides for the material needs of individuals and families, protects aged and disabled persons against the expenses of illnesses that may otherwise use up their savings, and gives children the chance to grow up healthy and secure in case death of a family member occurs in their family.
To put it more simply, Social Security provides you with a source of income when you retire or if you cannot work due to a disability as well as it supports your legal dependants.
Beyond its role in replacing a portion of your income, Social Security supports family members (spouse, children, or parents) who have lost loved ones as well as those with disabilities.
Depending on certain life events, with the condition of receiving Social Security or Supplemental Security Income (SSI) you, or a family member of yours, may become eligible for an increase in your federal benefits.
If you were married to a U.S. citizen who worked for at least 10 years while paying taxes to Social Security, you might be entitled to a survivor benefit that is higher than what you are entitled to due to your own earnings. These survivor benefits are disbursed as half of the deceased’s earned benefit. Even if you were married more than once, you are still entitled to this benefit if you were married for at least 10 years and meet other criteria.
Survivor benefits are also available to divorced spouses if they had been married for at least 10 years and the surviving spouse meets certain criteria. Dependent children under 16, those 18-19 who are full-time students, and disabled children whose parent died are also able to receive benefits.
For a parent to be eligible for a benefit, some qualifications must be satisfied. For example, a person applying for parent benefits must be at least 62 years old, and their adult child was providing at least half of their support and has since died. The deceased had to have enough work credit gathered before their death and their parent has to provide timely documents
that prove the deceased worker was providing at least one-half of their support. These are just some of the important factors to keep in mind while applying for parent benefits.
The parent’s benefit may stop if the parent marries or if the parent becomes entitled to a retirement benefit amount higher than the parent’s benefit amount. The benefit will be calculated based on how long the child worked and their average indexed monthly earnings.
Often the two people in a married couple will not have earned the same amount of money over time. If your earned benefit is less than half the earned benefit of your spouse, you will be able to receive the greater of the two benefits.
An important requirement for spousal benefits is that the spouse must be at least age 62. You may also be entitled to spousal benefits if you are taking care of a child under the age of 16 or an adult child who developed a disability before age 22.
If you are disabled, you may be able to access higher benefits based on your own work rather than based on the work of a parent.
The definition of disability under Social Security is different than other programs. Social Security pays only for total disability. In other words, no benefits are payable for partial disability or for short-term disability.
A disability is qualified under Social Security if all the following are true:
If the marriage lasted for at least 10 years, you will be able to receive benefits based on your former spouse’s work.
If a parent is entitled to disability or retirement benefits and has a child under their care who is under 18 or disabled, the child may be eligible for benefits based on the parent’s work history.
You may also be eligible for child benefits if you are unmarried and under age 18 or were disabled prior to age 22 and have a parent who is deceased or receiving Social Security benefits.
You may be eligible for benefits through the Veterans Administration if you receive SSI and have military experience.
Supplemental Security Income (SSI) is a program that supports adults and children with a disability or blindness by supplying monthly payments. Recipients must have incomes and resources below specified amounts. People 65 and older without a disability may qualify for SSI as well if they meet the income and resource requirements and have worked long enough to qualify for Social Security retirement benefits.
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