Quote: "In the United States, Social Security is the commonly used term for the federal Old-Age, Survivors, and Disability Insurance (OASDI) program and is administered by the Social Security Administration (SSA)."
Federal programs that provide support and health care to elderly and disabled individuals.
Social Security Retirement Benefits: Understanding how retirement benefits are calculated, eligibility requirements, and options for claiming benefits.
Social Security Disability Benefits: Eligibility requirements, the application process, and available benefits for individuals with disabilities.
Social Security Survivor Benefits: Eligibility requirements and available benefits for a spouse, children, or other dependents of a deceased Social Security recipient.
Medicare Parts A, B, C, and D: Understanding what each part covers and how to enroll in Medicare.
Medicare Advantage Plans: Understanding the types of Medicare Advantage plans available and how they differ from traditional Medicare.
Medicare Supplement Insurance: Understanding how Medicare Supplement insurance can help cover out-of-pocket healthcare expenses.
Healthcare costs and coverage: Understanding the costs and different types of healthcare coverage available through Medicare, including deductibles, copayments, and coinsurance.
Healthcare fraud and abuse: Understanding how to recognize and report healthcare fraud and abuse, including Medicare fraud.
Aging and Long-term care: Understanding the physical, mental, and social changes that accompany aging, as well as options for long-term care.
Elder abuse and neglect: Understanding how to recognize and report elder abuse and neglect, including financial exploitation.
Estate planning: Understanding the importance of estate planning and options for transferring assets to heirs.
Social Security and Medicare advocacy: Understanding current legislation and advocacy efforts related to Social Security and Medicare.
Disability rights and accommodation: Understanding how to advocate for individuals with disabilities and ensure they receive the necessary accommodations in healthcare.
Cultural competency and diversity: Understanding the diverse needs and beliefs of aging individuals from different cultural backgrounds, including language and communication.
Palliative and hospice care: Understanding the difference between palliative and hospice care, as well as options for end-of-life care.
Retirement benefits: A regular monthly payment is provided when a person retires and has paid into Social Security during their working years.
Disability benefits: Monthly payments are provided to people who become disabled and have limited earning capacity.
Survivor benefits: Monthly payments are provided to the family members of a deceased worker who was eligible for Social Security benefits.
Supplemental Security Income (SSI): A program that provides financial assistance to low-income individuals who are aged, blind, or disabled.
Medicare: A federal health insurance program for people who are 65 or older, or younger individuals with certain disabilities or medical conditions.
Medicare Part A: Hospital insurance that covers inpatient hospital stays, hospice care, and skilled nursing facility care.
Medicare Part B: Medical insurance that covers doctor visits, outpatient services, and preventive screenings.
Medicare Part C: Also known as Medicare Advantage, these are private insurance plans that offer all benefits of Part A and B, and sometimes additional services like dental, vision, and hearing.
Medicare Part D: Prescription drug coverage that helps pay for the cost of prescription medications.
Medigap: Private supplemental insurance that covers some of the out-of-pocket costs associated with Original Medicare, such as copayments, coinsurance, and deductibles.
Quote: "The original Social Security Act was enacted in 1935, and the current version of the Act, as amended, encompasses several social welfare and social insurance programs."
Quote: "The average monthly Social Security benefit for November 2022 was $1,551."
Quote: "The total cost of the Social Security program for the year 2021 was $1.145 trillion or about 5 percent of U.S. GDP."
Quote: "Social Security is funded primarily through payroll taxes called Federal Insurance Contributions Act (FICA) or Self Employed Contributions Act (SECA)."
Quote: "In 2022, the maximum amount of taxable earnings is $147,000."
Quote: "Social Security is nearly universal, with 94 percent of individuals in paid employment in the United States working in covered employment."
Quote: "About 6.6 million state and local government workers in the United States, or 28 percent of all state and local workers, are not covered by Social Security."
Quote: "Social Security payroll taxes are collected by the Internal Revenue Service (IRS) and are formally entrusted to the Federal Old-Age and Survivors Insurance (OASI) Trust Fund and the Federal Disability Insurance (DI) Trust Fund."
Quote: "Social Security revenues exceeded expenditures between 1983 and 2009 which increased trust fund balances."
Quote: "The retirement of the large baby-boom generation, however, will lower balances."
Quote: "Without legislative changes, trust fund reserves are projected to be depleted in 2033 for the OASI fund."
Quote: "Should depletion occur, incoming payroll tax and other revenue would only be sufficient to pay 77 percent of OASI benefits starting in 2034."
Quote: "With few exceptions, all legal residents working in the United States now have an individual Social Security Number."
Quote: "Social Security is administered by the Social Security Administration (SSA)."
Quote: "Social Security payroll taxes are formally entrusted to the Federal Old-Age and Survivors Insurance (OASI) Trust Fund and the Federal Disability Insurance (DI) Trust Fund."
Quote: "Social Security revenues exceeded expenditures between 1983 and 2009."
Quote: "The total cost of the Social Security program for the year 2021 was $1.145 trillion or about 5 percent of U.S. GDP."
Quote: "About 6.6 million state and local government workers in the United States, or 28 percent of all state and local workers, are not covered by Social Security."
Quote: "Should depletion occur, incoming payroll tax and other revenue would only be sufficient to pay 77 percent of OASI benefits starting in 2034."