Social Security Personal Area

ביטוח לאומי אזור אישי is a set of measures established by legislation to maintain income or provide supplementary income in case of sickness and disability, unemployment, crop failure, loss of spouse, maternity, and unforeseen family expenses. It can also be used to pay for funeral expenses.

A Social Security privatization plan would require large-scale government borrowing. Most versions of the balanced budget amendment require 60 percent majorities in both Houses of Congress to approve a federal budget that involves such borrowing.

My Social Security account

The free and secure my Social Security account provides personalized tools for everyone, whether you receive benefits or not. You can use it to request a replacement Social Security card, check the status of an application and estimate future benefits. You can also change your address, get a benefit verification letter and set up or change direct deposit. You can even opt out of receiving mailed notices that are available online.

The first step in establishing your account is to read and accept the terms of service. You will then need to enter personal information that the SSA can use to verify your identity, such as your name (as it appears on your Social Security card), your address and date of birth. You can use a driver’s license, state-issued ID or data from a tax document such as a W-2 form. You can also choose to add two-factor authentication, which will require you to get a code via text or phone call for final confirmation of your identity before you can use your account.

You can also use your my Social Security account to designate a representative payee. A representative payee is an individual or entity that the SSA appoints to handle your financial matters. You can also choose to designate in advance up to three individuals who could serve as your representative payee in the future.

SSI/SSDI benefits

SSI, or Supplemental Security Income, is a monthly cash benefit for disabled people with limited income and assets. It doesn’t require that you have worked in the past to qualify, and it automatically qualifies you for Medicaid health coverage. DB101 has an entire article on how SSI works and what the requirements are to get it.

If you’re approved for SSI, the program will send you a letter (also called a budget letter, benefits letter or proof of award letter) with your monthly payment amount. This can be obtained instantly online via your my Social Security account if you have one.

SSA considers what you own, your living situation and other factors to determine how much you’ll receive each month. Each month, you’ll have to report any changes in your living arrangement, assets or income.

Generally speaking, you won’t qualify for SSI if the total value of accountable resources you own exceeds $2,000 (or $3000 for couples). Some assets don’t count, including your home, your primary vehicle and up to $100,000 in an ABLE account, which is a special savings account for disabled people.

Changes to the Statement

Over the years, the Statement has undergone several changes in content and layout. It has been shortened from six to four pages and placed in more accessible formats. For example, it has been redesigned to make the columns of numbers that represent a worker’s Social Security and Medicare earnings history take up one-half page instead of the entire page as they had previously. In addition, the use of more white space and different font sizes makes the Statement easier to read.

The Statement has also been changed to note the fact that benefits depend on a person’s lifetime earnings in two prominent locations (on the second page of the benefit-estimation section and on the first page of the “Your Earnings Record” section). These changes were made in response to the 1997 Strategic Plan’s objective to increase public awareness about Social Security programs and the Statement.

In addition, the Statement was redesigned in 2008 to provide information on saving and investing. SSA also began mailing a Thinking of Retiring? insert to workers aged 55 and older.

These changes were made in part to respond to findings from surveys commissioned by SSA that showed that the current Statement estimation method is less accurate for younger workers and that accuracy increases with retirement age. SSA is continuing to experiment with and evaluate alternative methods that might be more accurate for all recipients.

Applying for benefits

The Social Security personal area gives you personalized tools that help you plan for retirement, find out how much you’ll receive when you retire, replace a lost or damaged card and more. The site also allows you to check the status of a claim, request an instant benefit verification letter and apply for benefits.

If you are applying for disability, be prepared to answer questions about your work history and give details of your medical problems. You must provide complete medical information including reports from your doctors, hospitals and clinics. Your case will be evaluated by the Disability Determination Services (DDS) personnel, which is made up of medical and nonmedical professionals.

When you’re ready to begin your monthly checks, it’s best to start the process several months in advance of when you want your benefits to start. “Remember, these benefits are not turned on like a water faucet,” says Andy Panko, a certified financial planner at Tenon Financial in Iselin, N.J.

The online application process is relatively simple. You’ll be asked to verify your identity and some basic information, then you can fill out the rest of your application using your online account. Those who don’t have an online account can contact their local Social Security office and schedule an appointment to get help. A representative will guide you through the application process.