Most media discussions over the nature of social security focus around its costs and ways of reducing the bill. A lesser discussed fact is that many social security programs are significantly under-receipted. Senior citizens are the most widely impacted, with up to 45% of those eligible missing out on aid with regards to medical care. During what are tough economic times, and with questions continuing to float on the nature of the debt ceiling, it is more important than ever that Americans make themselves aware of their entitlements and ensure they obtain them. There is no shame in welfare and social security; it’s a legally determined benefit that if eligible for, you are entitled to.
It’s important to note that the process of obtaining social security can be challenging, and especially when taking into account differences from state to state. As a result of state-level legislation and the impact of social security staff cuts, recently highlighted by CNBC, there are significant state-to-state differences in both the level of support that can be obtained and in the speed of delivery. Furthermore, the impact of judges on the process of obtaining support cannot be underestimated. Many claims will need to go to court, and statistics show that you’re more likely to have a positive outcome in Sacramento than you are in Pittsburgh. It’s important to prepare evidence accordingly, and use public advocates to ensure that you are properly informed through the sometimes tricky judicial process.
Keeping Up With Risks
Due to ongoing conversations concerning the debt ceiling there is ongoing concern that checks will be late through the year, according to USA Today. With the various arms of government split along party lines and debate sure to continue throughout the current term of each legislative house, it’s only going to continue in this vein. It pays to plan ahead and ensure you have some contingency for these delays, and that you are in the right position to claim your funds when they do become available. Don’t dither.
Preparing For Change
There is positive news on the horizon. As Investopedia highlights, there are several benefits to social security recipients being rolled out through 2023. This includes a bigger pension age payout, the cap on taxable earnings increase, and an increase on the level of earnings you can earn before they start eating into social security benefit provision. In short, there are a number of beneficial changes that will make social security recipients safer and more secure in the short-term. This is good news given the difficult economic stance that the country and many of its public are currently embroiled in.
It’s a tumultuous time, economically, and the social security system is under attack with legislators seeking to revise and reform it. At the same time, there is a huge amount of money that people are entitled to that is nevertheless going uncollected. Ensuring that you are receiving what you are entitled to is important, and will help to create security today.