Question: Who can get Extra Help with Medicare prescription drug coverage?
Answer: Medicare Part D prescription drug coverage is available to anyone with Medicare. Joining a Medicare prescription drug plan is voluntary, and you pay an additional monthly premium for the coverage. People with higher incomes might pay higher premiums.
If you have limited resources and income, you may be eligible for Extra Help to pay for the costs — monthly premiums, annual deductibles, and prescription co-payments — related to a Medicare prescription drug plan. To be eligible for Extra Help, you must reside in one of the 50 states or the District of Columbia. If your resources and income meet the requirements, you can save nearly $5,900 in prescription costs each year. For 2024, your resources must be limited to $17,220 (or $34,360 if you are married and living with your spouse). Resources include such things as bank accounts, stocks, and bonds. We do not count your house and car as resources. Your annual income must be limited to $22,590 (or $30,660 if you are married and living with your spouse).
Question: I’m trying to figure out how much I need to save for my retirement. Does the government offer any help with financial education?
Answer: Yes. The Financial Literacy and Education Commission has a website that can help you with the basics of financial education: www.mymoney.gov. You may also want to check out the Consumer Financial Protection Bureau, which offers educational information on financial matters, including mortgages, credit cards, retirement, and other big decisions. Visit the Consumer Financial Protection Bureau at www.consumerfinance.gov.
Finally, if you have a personal my Social Security account, you can get an estimate of your personal retirement benefits and see the effects of different ages to begin receiving retirement benefits. If you don’t have a personal my Social Security account, create one at www.ssa.gov/myaccount.
Question: What are some of the documents Social Security will accept as proof of identity for a child?
Answer: While you can use a birth certificate to prove age or citizenship, you cannot use it as proof of identity. Social Security needs evidence of the child’s existence after birth. An acceptable document must show your child’s name, identifying information, and (preferably) a recent photograph. Your child must be present unless the picture ID also shows your child’s biographical information (i.e., age, date of birth, and parents’ names). We generally can accept a non-photo identity document if it has enough information to identify the child (such as the child’s name and age, date of birth, and parents’ names). We prefer to see the child’s U.S. passport. If that document is not available, we may accept the child’s:
· Adoption decree.
· Doctor, clinic, or hospital record.
· Religious record (e.g., baptismal record).
· Daycare center or school record.
· School identification card.
All documents must be either originals or copies certified by the issuing agency. We cannot accept photocopies or notarized copies of documents. You may also want to read the publication Social Security Numbers for Children, available at www.ssa.gov/pubs/EN-05-10023.pdf.
Question: Why doesn’t my retirement estimate take into account my work as a teacher? I’ve worked for 20 years for the state and thought it would count.
Answer: If you work for a state or local government agency — including a school system, college, or university — your earnings may not be covered by Social Security. If you are covered only by your state or local pension plan and you don’t pay Social Security taxes, your earnings won’t be shown on your Social Security record. (Your record will show your Medicare wages if you pay into that program.) For information on how your pension from non-covered state or local employment may affect the amount of your Social Security benefit, visit www.ssa.gov/prepare/government-and-foreign-pensions.
Question: I am nearing my full retirement age, but I plan to keep working after I apply for Social Security benefits. Will my benefits be reduced because of my income?
Answer: No. If you start receiving benefits after you’ve reached your full retirement age, you can work while you receive Social Security, and your current benefit will not be reduced because of the earned income. If you keep working, it could mean a higher benefit for you in the future. Higher benefits can be important to you later in life and increase the future benefit amounts your survivors could receive. If you begin receiving benefits before your full retirement age, your earnings could reduce your monthly benefit amount. After you reach full retirement age, we recalculate your benefit amount to leave out the months when we reduced or withheld benefits due to your excess earnings.
Learn more about Social Security by reading our publication, How Work Affects Your Benefits, at www.ssa.gov/pubs/EN-05-10069.pdf.
Question: I have been getting Social Security disability benefits for many years. I’m about to hit my full retirement age. What will happen to my disability benefits?
Answer: When you reach “full retirement age,” we will switch you from disability to retirement benefits. But you won’t even notice the change because your benefit amount will stay the same. It’s just that when you reach retirement age, we consider you to be a “retiree” and not a disability beneficiary.
Question: My father receives Social Security retirement benefits, and I will be in charge of his estate when he dies. Will I need to report his death to Social Security, or will benefits automatically stop?
Answer: When your father dies, please notify Social Security as soon as possible at 1-800-772-1213 (TTY 1-800-325-0778). Another person, such as a spouse, may be eligible for survivor benefits based on his record. Also, we might be able to pay a one-time payment of $255 to help with funeral expenses.
For more information, read our online publication, How Social Security Can Help You When a Family Member Dies, at www.ssa.gov/pubs/EN-05-10008.pdf.
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