Every year, simple mistakes cause thousands of people who get Social Security to lose their monthly checks. A lot of people do not realize they made a mistake until it is too late, which means they lose important income.
One of the most common problems is not telling the Social Security Administration (SSA) about big changes in your income, marital status, or where you live.
It is very important to know how even small mistakes can affect your benefits if you get them. The SSA says that beneficiaries must report any changes that might affect their ability to get benefits or the amount of money they get. Find out what you need to know to keep your Social Security benefits.
Changes You Must Report
One of the biggest mistakes beneficiaries make is not updating the SSA about changes in their situation. Here are the most common updates you need to report:
- Income from work: If you’re working while receiving Social Security benefits, you must report any additional earnings. For 2024, the annual income limit is $21,240. Earning above this threshold without notifying the SSA can lead to reduced payments or suspension of benefits. You can find detailed income rules on the SSA’s website.
- Marital status: Getting married, divorced, or becoming widowed can change your eligibility or the amount of benefits you receive. For example, spousal or survivor benefits often depend on your current marital status.
- Moving abroad: If you move outside the United States, it’s essential to inform the SSA. Not all countries allow benefit payments, and specific agreements between the U.S. and other nations may impact your eligibility.
How This Mistake Could Cost You
If you do not tell the SSA about these changes, they might think you were overpaid. This could mean you have to pay back the extra money. The SSA may sometimes stop all of your benefits until the problem is fixed.
For example, a beneficiary who made extra money without telling the SSA could get a letter months later demanding that they pay back thousands of dollars. This can make things very hard financially, especially for people who depend on their benefits to pay for their daily needs.
Steps to Avoid Losing Your Social Security Check
To avoid these costly mistakes, follow these simple steps:
- Report changes immediately: You can update your information through your My Social Security account at ssa.gov/myaccount or by calling the SSA at 1-800-772-1213.
- Keep accurate records: Save copies of your pay stubs, tax documents, and any correspondence with the SSA. Having detailed records can help you resolve disputes quickly if any issues arise.
- Consult a professional: If you’re unsure about your eligibility or need help navigating a complex situation, consider speaking with a lawyer or advisor who specializes in Social Security benefits.
- Check your account regularly: Log in to your My Social Security account to ensure all your details are up-to-date and accurate.
How to Maximize Your Benefits
Aside from not making mistakes, there are also ways to make sure you get all the benefits you are entitled to. One way the SSA accounts for inflation in payments is through the cost-of-living adjustment (COLA), which is done once a year. The payments that beneficiaries get will go up in 2024 because of COLA. On the SSA’s official COLA page, you can see the new payment schedule.
If you think your benefits have been unfairly cut or withheld, the SSA has programs to help beneficiaries who are having trouble paying their bills. These tools can help you quickly settle disagreements and get your money back.
Protecting your Social Security benefits is very important if you want to be financially stable. You can make sure that your monthly check arrives without any problems by staying informed and taking action. Visit ssa.gov, the website of the Social Security Administration, for more information and helpful links.
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