Should I Be Due A Refund For The Part B Premium I Paid For July?
Hi, I paid Medicare part b premiums for may June July and then again for August September October. Just filed for SS to begin in July. SS payment was received for July on Aug 1. Part b premium was deducted from July SS payment. It seems I am due for a refund of 445.50 (Aug Sept Oct) plus 148.50 for july. Is that correct? Thanks
Hi. No. The Part B premium withheld from your Social Security payment for July that's paid in August is for your August Part B coverage. Even though Social Security benefit rates are paid behind a month, part B premiums are . . . Read More
Category: Medicare
Posted: Aug 3 2021 - 9:27am
Can I Re-File For Spousal Benefits?
I am 67 and filed for my own social security at 62. My husband is 3 years younger than me and has just filed for his social security at the age of 64. We were both born after 1954. His social security amount is $1750.00 and mine is $987.00, can I re-file for spousal benefits? Would I make any difference in the amount?
Hi. No. Once you start drawing your own Social Security retirement benefits those benefits continue for life. You could apply for an excess spousal benefit to be paid in addition to your own benefit, but it doesn't sound like you'd be . . . Read More
Category: Filing Options
Posted: Aug 3 2021 - 9:20am
When My Oldest Son Stops Getting Benefits Will His Benefit Be Redistributed To My Younger Two Children?
My husband passed away in 2015. I have three children, 10, 12, and soon to be 18. They currently receive $1189/each. After my son turns 18 and is ineligible to receive benefits, will his portion be distributed between the two younger ones?
Hi. I'm sorry for your loss. It sounds like your oldest child's benefit amount won't be fully redistributed to your younger 2 children. The maximum rate that a surviving child can be paid is equal to 75% of the deceased worker's primary insurance amount (PIA). Up to 2 surviving children can always be paid their full . . . Read More
Category: Child Benefits
Posted: Aug 2 2021 - 7:59pm
Should I Wait Or Take SS Benefits Now?
I'm 62 now, my birthday is November 2021. I have a younger wife we have 2 kids together, one will reach age 16 in November 2021 other just turned 15 July 2021. My job for the last 7 years has been in real estate, we have an S corporation as of 2020 I'm now paid a modest paycheck W-2. My wife is a licensed realtor and also has a full-time job that pays well.The question, I'm thinking about retiring or throttling back my real estate business. Should I wait or take SS benefits now while my kids are under 18. My SS benefits if I take now would be $1763 a month wait year 66.9months . . . Read More
Category: Filing Strategies
Posted: Aug 2 2021 - 7:51pm
Will I Be Able To Collect Both Social Security And The Spousal Annuity I Receive From The Department Of Defense?
Currently I am receiving a Spousal Benefit Program annuity from the Dept of Defense since my husband passed away in 2016. He served in the Navy for 21 years and retired in 1993. I am soon to be of full retirement age myself and have worked in the medical field many years (non-military). Will my Social Security be offset due to this annuity? Will I be able to collect both?
Hi. I'm sorry for your loss. My expertise is limited to Social Security benefits, so I don't know whether or not collecting Social Security benefits could affect your spousal benefits . . . Read More
Category: Miscellaneous
Posted: Aug 2 2021 - 7:45pm
Will The Proceeds From The Sale Of My Home Affect My Benefits?
I have received SSDI for about 20 years. I just sold my home in Santa Clarita, CA (in escrow now) because I can no longer afford it. The proceeds are low about 100K. I don't want to lose my benefits and I don't have another place to buy in this range in nearly anywhere in the United States. I am told waiting and holding funds would be the best option but I am afraid if I don't reinvest the money right away it will qualify as earned income. What are my options?
Hi. As long as what you're receiving are Social Security disability (SSDI) benefits, the proceeds . . . Read More
Category: Disability Benefits
Posted: Aug 2 2021 - 2:47pm
Can I Apply As Early As August Or September If I Want To Claim Benefits Effective With December?
I am waiting until I turn 70 to collect SS Retirement benefits. I turn 70 December 26, 2021. I understand I can apply up to 4 months before I want benefits to start. Does that mean I can apply as early as August or September? Also do I indicate that I want my benefits to begin in the month I turn 70 (December) to get the maximum amount and expect my first payment to begin in January 2021 as SS pays one month in arrears?
Hi. Yes, you could file your application as early as August 1st, and you'd want to select December as your month of election to start . . . Read More
Category: Filing For Benefits
Posted: Aug 2 2021 - 1:32pm
Will I Get A Higher Benefit Now That I've Returned To Work?
I'm 70 an worked most of my life only get 900 a month.But I went back to work they still take social security out why I'm I gonna get more.
Hi. Your benefit rate could increase as a result of your earnings, but whether or not it will depends on how much you're earning and how much you earned in past years. Social Security retirement benefits are based on an average of a person's highest 35 years of Social Security covered wage-indexed earnings, so additional years of earnings only increase a person's benefit rate if they're higher than one or more of the . . . Read More
Category: Retirement Benefits
Posted: Aug 2 2021 - 12:51pm
Will The $1000 Teacher Stimulus Bonus Count Against My SSDI?
Does the 1000.00 teacher stimulus bonus counts against my ssdi.
Hi. This is a new type of payment, so I don't know if Social Security or the IRS has made a determination on how to count the bonuses. If the bonus is classified as part of your wages and will be reported as such on your W-2 form, though, then yes the bonus would count as earnings for Social Security disability (SSDI) benefit purposes. That wouldn't reduce the amount of your SSDI benefit, but if it causes your earned income to exceed the amount that Social Security considers to be substantial . . . Read More
Category: Disability Benefits
Posted: Aug 2 2021 - 12:38pm
Can My Grandchild Get Benefits On His Deceased Grandfather's Account If I Adopt The Child?
My ex spouse died while receiving social security disability benefits. Now I'm adopting our grandchild who was born after grandfather died. Both of my grandchild's parents have died. Can grandchild receive survivor benefits from grandfather's account after I as the surviving spouse have adopted grandchild?
If so can I then receive survivor benefits for caring for grandchild?
Hi. If both of your grandchild's natural parents were deceased or disabled at the time that their grandfather died, then the child could potentially qualify for survivor benefits . . . Read More
Category: Survivor Benefits
Posted: Aug 2 2021 - 9:36am
