5 things to know when it comes to Social Security as a disabled person
With statistics estimating that around 25% of all young people aged 20 today will become disabled by the time they’re 67, it’s no wonder an increasing number of people are taking the time to look into social security, what it’s all about, and how it can affect them now and in later life.
However, if you’re new to this world of social security benefits and you’re not sure what it’s all about, you’ve come to the right place. Today, we’re going to explore everything you need to know when it comes to this government-funding process, helping us grasp the basics and make the best decisions for you.
1. There’s Not Just One Social Security Benefit
That’s right; there are two types available. The first is Social Security Disability Insurance or SSDI for short. The second is the Supplementary Security Income. To keep a long story short, SSDI is the most common type and is designed to help you financially if you lose the ability to work.
The other is not based on your working experience (we’ll explore that below), but instead on your financial situation.
2. The Duration of Work Test
Not everybody can directly acquire SSDI. Alternatively, you must be eligible, which means taking duration of work test. However, this is merely a check that takes your age and then runs that against how many years of work you’ve put in.
The minimum is 1.5 years if you’re under 28 years old, and 9.5 years if you’re under 60. There are also many specifics involved in this process, but these will depend on your individual circumstances.
3. You’re Entitled to Medicare
Not many people know that if you’re receiving SSDI benefits, then you’re also entitled to the US Medicare services early. Traditionally, you’re not allowed to these benefits until you’re 65, but with SSDI, you can technically receive them at any age.
4. Applications are Easy
The process for applying for SSDI is as simple as filling out a 15-minute application form on the official SSDI website. You’ll need to include all your personal information, as well as information about your years of employment, and numerous identify forms.
After the main form, there are several other forms to fill out, and you may need to speak to a representative to ensure all the information is correct and everything is filled out correctly. If you need help with this or any of the legal aspects, you can enlist the help of a service such as McChesney & McChesney.
5. You Still Need Insurance
In many cases, SSDI isn’t a replacement for your standard healthcare insurance policies, and this is something you’ll still need to invest in. This is mainly for financial reasons, so if 40% of your wage won’t cover all your bills (a standard SSDI pay-out), you’ll need insurance to cover the rest.
As you can see, there are lots of things to think about when it comes to SSDI benefits, and plenty of different aspects to consider. Remember, while there are guidelines, many cases can differ on an individual basis, so make sure you’re asking the right questions to see what’s right for you.