Does Social Security Cover Short-Term Disability? 

Short-term disability is usually the result of an unexpected health crisis. Even though you may not be able to predict your need for short-term care due to a sudden illness or injury, it is important to know your options if you ever need it. Short term disability coverage is designed…

Does Medicaid Check Bank Accounts? 

Medicare recipients may also qualify for Medicaid if their income is below the threshold for eligibility in their state. However, the process for determining this eligibility may require you to share several types of financial documents with the agency in your state that manages this needs-based program. What Counts as…

Does Social Security Recognize Power of Attorney? 

For people who are aging, ill, or have a disability and expect to be in situations where they will no longer have the capability to oversee their own personal matters, it is common to have a lawyer draft a power of attorney. In very simple terms, a power of attorney…

Do Social Security Benefits Increase with Age? 

Ever since 1937, American workers and employers have been paying Social Security taxes and collecting benefits after meeting eligibility criteria. Today, approximately 61 million Americans collect their monthly retirement benefits. In 1983, the United States Congress passed further legislation to gradually increase the age for beneficiaries to get their full…

Does Social Security Get Taxed? 

As part of retirement planning, you are likely watching your Social Security statements closely from year to year in anticipation of the estimated payouts displayed. However, some people may overlook the tax liability. Social Security may be subject to income tax, but it may depend on your circumstances. Background Social…

How Does Social Security Determine Your Monthly Benefit 

It seems like Social Security has been around forever since this benefit is vital to so many people. It can be hard to believe that Social Security was only enacted in 1935, and Medicare did not exist until 1965. Millions of Medicare recipients have been greatly impacted by these benefits….

Do Social Security Recipients Get Cost of Living Increases? 

In 1975 when inflation in the United States was high and retirees were having a tough time maintaining their standard of living, the government implemented the annual Cost of Living Adjustment, or COLA. This cost of living increase is meant to raise fixed incomes that come from government sources such…

Is a Social Security Card Free? 

Your Social Security number is one of the most important pieces of documentation you have. This number is often provided to you on a smaller, wallet-sized piece of paper, and it contains a nine-digit number on it. This number is assigned to each person on an individual basis, and it…

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Coverage of Durable Medical Equipment

Are you aware that your durable medical equipment (DME) may be covered under Medicare? Medicare Part B (Medical Insurance) covers medically necessary durable medical equipment that your doctor prescribes for use in your home. Therefore, Medicare covers items like oxygen equipment and supplies, wheelchairs, walkers, and hospital beds ordered by…