Historically, older individuals who had reached a point where they were physically or mentally incapable of working any longer were cared for by family members. In many cases, families stayed within the same home or on the same land for many generations, and because mass transit and personal automobiles didn’t exist or were uncommon, communities […]
Resources
Does Social Security Have a Death Benefit?
As seniors age, life planning issues become more important. Part of the process of life planning is ensuring that loved ones left behind after death are financially secure, but many seniors wonder whether or not there is a death benefit involved in passing on Social Security income. Many financial retirement plans, including individual retirement accounts, […]
Does Social Security Call You About Suspicious Activity?
Scams and scammers have existed since the dawn of human history, but these days, the Internet has made it easier than ever for unscrupulous individuals to gain access to personal data for nefarious purposes. While many scams involving personal data revolve around using information to open fraudulent credit accounts, more straightforward and intimidating scams involve […]
Will Social Security Run Out?
The Social Security program was created as a way to assist seniors with a monthly source of income after retirement, and it is administered by the Social Security Administration. There were many contributing factors to the need for such a program, including improvements in medical care that extended life expectancies and the introduction of automobiles […]
When Does Social Security Become Taxable?
When you retire, you begin seeing a monthly deposit from the Social Security Administration. The amount of these benefits is determined based on your age at retirement, your income, and your work history. But, after retirement, questions that commonly pop up include: Do I still have to pay taxes, and do I have to pay […]
Does Social Security Count as Income for Medicaid?
The Social Security Administration (SSA) oversees and manages several federal programs that pay allotments to beneficiaries and qualifying dependents. Whether your income from the SSA will be included or excluded for Medicaid eligibility will depend upon which federal program you are enrolled in. TYPES OF SOCIAL SECURITY INCOME INCLUDED IN MEDICAID ELIGIBILITY Retirement Social Security: […]
Does Social Security Count as Income?
Although Social Security is used as supplemental income for many recipients, others rely on it as a sole source of income. Regardless of the case, it’s important to know whether or not Social Security payments count as income for tax purposes and other financial contracts. In most cases, tax liability is determined by income level, […]
When Does Social Security Start?
Social Security is a source of monthly funds that many seniors rely on in order to take care of household costs, including food and utilities. It was put into place in 1935, and today, the program serves nearly 100 million people across the United States. The program is designed to provide financial payments to those […]
Can You Laminate Your Social Security Card?
Laminating documents can be a great way to protect them while also adding support and preventing tears and wrinkles. The downside to lamination, however, is that it can prevent access to the actual original document itself. Because a laminated piece of paper is encased in plastic, it can be difficult to examine the actual properties […]
Do Social Security Benefits Begin the Month of Your Birthday?
Receiving Social Security for the first time can be a freeing experience for some seniors as it often signals the official start of retirement. A number of seniors also rely on Social Security payments for basic household bills, making it all the more important to understand when payments begin. In general, American seniors become eligible […]
What Does the Social Security Card Look Like?
In the United States, a picture ID is required for a number of things, including purchases of products that are age-restricted. You also need to present a picture ID to do things like rent a vehicle or enter into certain other contractual agreements. Although identification with your picture on it is generally accepted when conducting […]
Do Social Security Benefits Increase After Full Retirement Age?
As Americans begin to think about retirement, one of the most difficult decisions is selecting the right time to submit a claim for Social Security benefits. For those already receiving benefits due to a disability, special rules apply. For everyone else, there are several options prompting many questions, including when benefits are increased and reduced. […]
Do Social Security Benefits Continue During a Government Shutdown?
The longest United States shutdown of federal offices began December 22, 2018 and lasted 35 days. When annual budget disputes within the government hit news headlines, there are understandable concerns from seniors and individuals under the age of 65 who qualify for Medicare due to disability who rely on the continuity of their Social Security […]
Does Social Security Go Up Each Year?
Tired of the daily grind at work and looking forward to the day you can retire and start checking things off your bucket list? Or are you one of the lucky people who love your job so much you never want to leave? In either case, you will probably have to start thinking about retirement […]
Does Social Security Disability Pay Child Support?
In the United States, the Social Security Administration pays around 2.6 billion dollars every month to over 4 million children of disabled, retired, or deceased parents. These funds are meant to offer financial support to the children and their families for a period of time depending on their eligibility. If you are disabled or retired […]
Does Social Security Cover Death Benefits?
After an individual reaches the age of retirement, Social Security benefits kick in to provide financial support for the remainder of the person’s life. In addition to the monthly benefit payments, there is an additional form of financial compensation that is provided to family members in the case that the individual receiving the benefits passes […]
What Does Medicaid QMB Cover?
Medicaid QMB, which stands for Qualified Medicare Beneficiary, is a program designed specifically for individuals that qualify for both Medicare and Medicaid coverage and that are financially unstable. This program provides these individuals with an alternative way to pay for their medical bills and can allow them to use Medicaid services to help cover the […]
Does Social Security Have a Surplus?
Certain Social Security benefits use a special government trust fund in order to secure payments to current and future beneficiaries who qualify for payments under various definitions. Those who qualify for Medicare coverage may also receive a form of Social Security payments from this fund. Understanding the Social Security Trust Fund The Social Security Trust […]
Does Medicaid Pay for Cremation?
Cremation is a choice many ponder for personal reasons based on reduced cost, fears about burial, consideration for the environment or to simplify arrangements. Medicaid covers neither funeral expenses nor the cost of a cremation or burial. However, Medicaid services and Social Security do provide alternative forms of support. How Medicaid Services Can Ease the […]
Does Social Security Count as Income for Medicaid?
Applying for Medicaid services involves an evaluation of your income and assets. These limits are determined by each state, but federal policy establishes what types of income and assets are counted or exempt for retirees. Common Types of Social Security Benefits The Social Security Administration (SSA) manages various benefits programs that pay cash allotments to […]