What Are Social Security Benefits? [Explained]

Social Security Benefits are the type of payments that are paid by the US government to the eligible retired persons, disabled persons, and their spouses, children or survivors.

This is the US program which was launched by the government and is formally known as Old-Age, Survivors, and Disability Insurance (OASDI).

Although, there are certain eligibility criteria which is considered to avail the benefits.

It is a broad governmental welfare curriculum that is drafted to grant half part of their salary as Social Security Income or pension.

It is provided in the case of old age- when people are not able to work and fulfill their daily needs, disability, or in the effects of death to the spouses, ex-spouses, children, or survivors.

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What Is Social Security?

Social Security is another name for the OASDI program of the US Government. This program is managed and operated by the association known as Social Security Administration (SSA). SSA or Social Security Administration is a governmental department.

Social Security is also considered as the kind of insurance which offers benefits similar to any other kind of insurance policy. The type of services which are rendered under social security benefits are:

  1. Retirement Pensions.
  2. Disability Insurance.
  3. Survivor Benefits.
  4. Unemployment Insurance. 

There are several firms or departments which are labelled or nominated by the government to provide several services. The services which come under this are:

  • Medical Care.
  • Financial Support while the resident is unemployed.
  • Health & safety while working.
  • Funds are also provided at the time of any sickness.
  • Retirement services.

Social Security Administration also provides or offers the benefits which are not covered under or provided by any type of insurance policy. Social Security administration provides funds to fulfill the necessities like:

  1. For food.
  2. Clothing.
  3. Housing.
  4. Education.
  5. Medical Care.
  6. Even some part is also distributed as pocket money or financial assistance to take care.

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What are Social Security Benefits

Social Security benefit reaches more people than the people who pursue retirement benefits. There are broad 4 categories of benefits that can be availed through Social Security Benefits. These benefits all come under the Old Age, Survivors, and Disability Insurance Program (OASDI), which is commonly known as Social Security. The Benefits which are offered by the Government under the name of Social Security are as follows:

Retirement Benefits

To decide the age at which you want to take retirement, is one of the most crucial and important decisions of your life. Your age of retirement decides the number of benefits you receive. We can also say that the age of retirement is directly proportional to the number of benefits that you will receive.

The higher retirement age will get you the higher social security retirement benefits. The full retirement age according to government is 67, so if you take retirement at this age, then it will offer you an opportunity to avail maximum benefits.

Disability Benefits

If the person is not able to work because of his or her either mental or physical disability, and the condition remains the same for more than one year.

In this situation, an individual becomes eligible for Social Security Disability Benefits.

Security has certain different rules and regulations for providing Social Security Disability Benefits.

They operate differently even from other organisations that provide disability benefits.

To claim your disability benefits through us becomes easier if you prepare your file with the certain following documents:

  • Complete medical records from the starting date to the present date. Complete information about the doctors, nurses and the practitioners who are involved with your case.
  • All medical test reports.
  • The complete personal information about the doctors, nurses, attendants, and the medical practitioners who were involved or treated your disability.
  • A complete treatment plan which you are undergoing.
  • You also need to submit the complete information about your last 15 years of employers. No matter if you switched your job and the employer was changed. Just make sure that with the name of each employer the job designation & description should be mentioned.

Spousal or Survivors Benefits

If your better half is unemployed, or he/she is not earning well to receive the social security benefits through their income, then the weak partner is entitled or becomes eligible to receive the benefits at 62 years of age. The benefit percentile will be decided based on the partner’s work record.

The benefit percentile which the weak partner will receive is half of the total amount in which their spouse is eligible at their full retirement age. In the case of spouse death, the Survivor is eligible to attain the Social Security benefits which are higher.

Medicare Benefits

Medicare can be considered as like any other health insurance program.

The person can be eligible for Social Security Medicare Benefits only at or after the age of 65. People with disabilities are also entitled to this benefit.

  • There are 4 types of plans which help you acquire the benefits according to the type of plan applicable. These are:
  • Medicare Part A, which includes hospital bills. It is also termed as Hospital Insurance.
  • Medicare Part B is also known as Medical Insurance.
  • Medicare Part C, which is now known as the Medicare Advantage Plan. It includes and covers both Part A & Part B services.
  • Medicare Part, it is also known as the Medicare Prescription Drug Coverage. As the name suggests it covers all the prices of the prescribed drugs.

Supplemental Security Income Benefits

Under this category of benefits either the disabled employed person or the children of the entitled social security benefits who are getting less or no income are eligible for Supplemental Security Income Benefits.

The person can also avail of these benefits after the age of 65.

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