The Social Security Cash Benefits Programs are essentially the components of Social Security that provide financial assistance. Retirees and those who become disabled prior to retirement receive cash compensation. Additionally, monetary benefits may be provided to a deceased person’s surviving spouse and/or young children. Cash benefits may be paid to the adult disabled children of a person who dies while receiving cash benefits in certain circumstances. Cash benefits are occasionally granted to a person who serves as the legal guardian of a minor, a disabled person, or a retiree who is unable to manage his or her own affairs.
Cash benefits are available to retirees who have contributed to the Social Security system for a specified period during their working life. There are two types of Social Security Disability benefits: Supplemental Security Income (SSI) and Social Security Disability Insurance (SSDI). To qualify for Supplemental Security Income cash benefits, you must have a very limited income and assets and a serious handicap that prevents you from being employed. If you want to qualify for cash benefits under Social Security Impairment Insurance, you must have worked a specified number of years and contributed to the Social Security system, in addition to having a serious disability that prevents you from working. When you reach retirement age and are receiving Social Security Disability benefits, those benefits will be transferred to regular Social Security retirement benefits.
If you are receiving financial benefits as a result of normal retirement, they will continue to be paid until you die. If you begin receiving Social Security Disability payments before to reaching retirement age, your case will be evaluated on a quarterly basis to see if you continue to qualify for benefits. If you recover from your disability or your disability improves to the point where you can return to work, your Social Security Disability benefits will be reduced or terminated.
Cash payments may be augmented by Medicare entitlement and are subject to change based on back to work requirements, type of disability, retirement age, and other variables.