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Social Security... Page 2
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- Medicare Benefits ($.19). Medicare provides health care for people age
65 and over and those who have permanent kidney failure or certain disabilities. Medicare
consists of Part A and Part B coverage. Part A covers hospital inpatient care, home health
services, skilled nursing, and hospice care. If you're eligible for social security
benefits, you automatically qualify for Part A coverage. Part B requires you pay premiums
for services such as diagnostic tests, ambulance transportation, outpatient care, and
emergency room visits. Part B pays 80% of covered services. You're responsible for paying
the remaining 20% plus a $100 deductible for each calendar year. The 1999 Part B
monthly premium is $45.50. This amount is automatically deducted from your social security
payment unless you decline Part B coverage.
- Disability Benefits ($.12). Workers who have a severe disability that
prevents them from working may be entitled to this coverage. To be eligible, the
disability must be expected to last at least 12 months or longer. Payments continue until
the worker is able to return to his or her job again.
How Do I Qualify for Benefits?
When you work, you earn credit for Social Security benefits. You're entitled to monthly
benefits whether you're self-employed, work for an employer, or you're a stay-at-home
mother with a working husband. To qualify for Social Security benefits, you need to have
worked at least 40 quarters (non-consecutive) -- approximately 10 years.
When Do I Receive Benefits?
Starting in 2003, the retirement age for full benefits will gradually increase from age 65
to age 66 in 2009 and age 67 in 2027. Overall, there are four different situations that
govern when you'll receive benefits:
- Qualifying Work History (Single). You'll receive benefits at the normal
retirement age unless you elect early retirement (and reduced benefits).
- Qualifying Work History (Married). You'll receive benefits at the
normal retirement age unless you elect early retirement (and reduced benefits). Your
benefits may be higher than your husband's but not less than 50% of his benefits.
- Stay-At-Home Mother. If your family is your career, you will receive up
to 50% of you husband's benefits if he retires, dies, or becomes disabled.
- Divorced. You will receive benefits from your ex-spouses' social
security record if he is currently receiving benefits or he is deceased. To be eligible,
you have to meet the following conditions:
- You were married for 10 years of longer.
- You are not currently married.
- You are age 62 or older.
- You are not able to receive more than
50% on your own record.
*If your ex-spouse is deceased and your
were not married for at least 10 years, you may be able to receive benefits provided
you're taking care of his children, you're not married, and you're not entitled to a
higher amount than 50%. Benefits under this condition will stop once your child reaches
age 16.
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