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Social Security, SSI, and Medicare - What you need to know about these vital programs in ASL

Milotic my name is Billy Bowman social Security Administration social Security finger Family for example I want to give you some basic information to help you understand what Social Security to you and your family to be your only source of retirement income Social Security replaces about 40% average wage earners income Tyrese will need 70% or more retirement earnings to live comfort add a comfortable retirement you need much more than just Social Security private pensions your retirement benefit is based on how much you earn during your working career retire Social Security you can get Social Security retirement that early as age 62 however you will receive a reduced benefit if you retire before your full retard example if you retire at age 62 your benefit would be about 30% lower than what it would be if you waited until your full retirement age if you were born 1943 to 1960 and later the age of which for retirement benefits are payable increases gradually to a 67 the following chart list the full retirement age by year of birth information on this chart WWE social Security. Govt the fact is that about a third of our beneficiaries are not retirees shari's include and their family surviving family members of insured workers call Social Security America's Family Protection plan as you can imagine it is not just an emotional blow survivors to the family however out of every ten children are eligible for Social Security survivor's benefits social Security Disability protection is equally valuable many workers have an employer provided long-term nearly all of us to have social security disability when you consider before age 65 turn all of these Social Security benefits simply by working and paying Social Security taxes nearly all jobs in the country are covered by Social Security you become entitled to retirement benefits with 40 credits gears of War disability let me know take a is social security a Minister's the supplemental security income program for SSI sSI provides monthly payments to people who are age 65 or older disabled resources however SSI benefits are not based on a person's were the benefits are based on program of Last Resort oaks of poverty unlike Social Security benefits SSI benefits are funded by general fund from the US Treasury social Security trust funds many people don't realize is that many SSI recipient have worked long enough to collect Social Security but their social security benefit is so low they also qualify for SSI nearly one-third of a are under age 65 and almost all recipients over 65 also get Social Security benefits basic monthly SSI benefit for 2013 is $710 for $66 for a couple other income can reduce the basic monthly SSI benefit now let me turn to Medicare medicare is our country's health insurance program for people age 65 or older at certain people younger than age 65 can qualify for Medicare to receive disability benefits for 2 years kidney failure call the centers for Medicare and Medicaid services or CMS is the federal agency in charge of Medicare you apply for Medicare and Social Security social Security Representatives can give you general information about the Medicare program here for example is some of the more important general information you need to know about Medicare medicare program cover all medical expenses medicare is financed by portion of the payroll taxes you and your employer also Finance part by monthly premiums paid by Medicare beneficiaries Medicare has several parts hospital Insurance part A helps pay for inpatient hospital care services medical insurance Part B helps pay for doctor mission hospital care and other Medical Services what's pay for prescription medicines for Medicare beneficiaries medicare beneficiaries with limited income and resources may qualify for extra help with their Medicare prescription drug plan 65 if you are already receiving benefits you will be enrolled in Medicare part A and B however because you must pay a premium for Part B coverage you have the option of turning it down if you are not already getting retirement benefits you should contact us about three months before your 65th birthday to sign up for Medicare remember you can sign up for Medicare online I do not plan to retire at age 65 what I just told you is important information about social security Medicare and SSI however you are expected to remember all of this I just told you is only some of the basics about these three programs you may have questions about other aspects of these programs or about a particular situation that you or someone in your family faces so here is something very I want you to remember what site address and phone number our website at Social Security. Call resource for information about all of Social Security Programs there are a number of things you can do online application for retirement disability Medicare estimate your retirement benefits plus get your social security statement your online statement provides estimates of the retirement survivors and disability benefits you may receive a list of your lifetime earnings according to Social Security records and much more it's important for you to verify your earnings because your benefit payment is based on how much you earned during your working career we recommend that you check your online statement once a year around your birthday for example also when you visit Social Security's website you can find answers to frequently asked questions in addition to going online you may call us toll-free any questions you have about social security Medicare or SSI answer people who know Angel Care thank you

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