Each year around mid-October, the Social Security Administration (SSA) announces how its benefits programs will be changing during the following year. These updates often have to do with what it takes to qualify for benefits and how much of increase in payments beneficiaries may see. There are at least a half dozen changes that are expected in 2019.
The amount of Supplemental Security Income (SSI) and Social Security that recipients get each month is slated to increase by 2.8 percent in 2019. This cost-of-living increase is an automatic adjustment that is happening because of the current inflation in the country and because it's mandated by law.
Five new conditions were added to the list of Compassionate Allowance Conditions (CACs) by the Social Security Administration (SSA) during the first week of September. Those illnesses that on this list are ones that qualify an individual to receive disability benefits.
Social Security (SS) just celebrated its 83rd birthday on Aug. 14. In case you're trying to do the math, this means that it's been in existence since 1935 when President Franklin D. Roosevelt was still in office.
A report released at the end of June by Social Security Administration (SSA) trustees suggests that some of its trust funds will be tapped out by 2034 unless changes are made to how benefits are paid out very soon. While they acknowledged that the benefits program won't cease to exist, they did note that millenials should expect to receive a quarter less of the benefits that they may have originally anticipated receiving when they came of age.
Social Security helped rescue generations of Americans from poverty and helps the rest of us worry a little less about retirement benefits. The days of thinking that our Social Security accounts will manage themselves are over, and we owe our future selves to pay attention to how our benefits develop.
Your grandchild lives with you. Can he or she collect Social Security benefits based on that relationship?
Nobody in the government is ever totally happy with each year's spending budget . In fact, the most recent one was signed by the President despite his vocal disapproval. However, there are quite a few people cheering at least one provision in the mix. There is an increase in the money allotted toward Social Security that's intended to help clear out the backlog of disability claims.
The U.S. Social Security Administration is becoming especially diligent in rooting out instances of fraud. For example, it has been investigating instances of people receiving Social Security disability payments when they don't actually have a qualifying disability and other suspicious activity.
For over 75 years, Social Security has been helping qualifying individuals who have lost their income, often due to disability or retirement. Right now, that means around 42.4 million workers who have retired are getting those benefits checks every month.