1. Social Security Benefits Overview Objectives Explain the benefits What to expect When to file Presenters Ron Niesing, ADRC of Brown County Susan Kupsky, Community Volunteer Updated September 15, 2016 W:/Benefit Specialists/Presentations/SS Benefits Only Overview

2. Need insured status – 40 QC (10 yrs of work) For 2016: 1 QC = $1260 mo, 4 QC = $5040 yr Auxiliary and survivor benefits are also based on QC’s – amounts may vary based on age of the worker How You Get Coverage

4. Retirement Benefits Benefits for the worker File at age 62 Full Retirement Age (FRA) age 66 if born between 1943-1954 FRA increases by 2 months years after 1954 until FRA is age 67 for 1960 or later 30% reduction at age 62; benefit increase about ½ of 1% for each month Delayed retirement credits (about 8%/year)

6. What to Expect Benefits are based on average earnings over 35 highest years of work Average retirement benefit $1,341; maximum at FRA about $2,639 Checks due 1 st full month after filing; actually paid in the next month Direct deposit – payments made on Wednesday’s based on the day of birth Debit cards if no bank account

7. Retirement Earnings Test Under normal retirement age (NRA) earnings limit is $15,720; withhold $1 for every $2 over this limit (example: earnings are $16,720, $500 would be withheld from benefits) Attain FRA in 2016, limit is $41,880; withhold $1 for every $3 over the limit (example: earnings are $42,880, $333 would be withheld from benefits)

8. End of File and Suspend Until April 29, could file and suspend benefits at FRA so spouse could file for spousal benefits No longer available after 04/29/2016 Retro benefits also no longer available Still available: – if 62 before 01/2/2016 – Low earning spouse files, higher earning spouse can claim spouses benefits and defer until 70 filing on the “higher” account

9. Taxation of Benefits Individuals w/ total income below $25,000 no tax on benefits Between $25,000-$34,000 tax on 50% of benefits Over $34,000 tax on 85% of benefits Couples below $32,000 total income –no tax Between $34,000-$44,000 tax on 50% Over $44,000 tax on 85%

10. Auxiliary Benefits Spouse Unmarried children Disabled adult children Ex-spouse (10 years) Benefit based on family maximum (150-180% of the worker’s benefit amount)

11. Survivor Benefits $255 Lump Sum Death Benefit (sometimes) Widow or widower Children Ex-spouse (10 years) Surviving parents Benefits subject to family maximum; no greater than 75-100%

12. Disability Benefits Conditions lasting at least one year or expected to end in death 4-5 months for a decision 5 month waiting period, no benefits paid Need 5 of last 10 years with wages Average benefit $1,166 Auxiliary benefits

13. When to File Retirement benefits – up to 3 months prior to actual retirement Disability – at onset of disabling condition Auxiliary and survivor – upon retirement, start of disability benefits, or death of the worker Medicare – it depends – come back April 22 for more

14. Using the SSA website If you are not a beneficiary: – Request replacement card – Review your Social Security statement – Get estimates of your benefit amount – Get a verification letter regarding Social Security status Never a beneficiary A past beneficiary Application is currently pending

15. Using the website, II If you are a beneficiary or have Medicare: – Request replacement card – Get benefit verification letter – Check payment and benefit information – Change your address or phone number – Start or change direct deposit – Get a replacement Medicare card – Get a replacement SSA-1099 or SSA-1042S for taxes

16. Creating an Account Go to www.ssa.govwww.ssa.gov Click link “Open my Social Security account” Provide personal information from question prompt You cannot create an account for another person You are subject to criminal or civil penalties for misuse

17. Resources Medigap Helpline 1-800-242-1060 Medicare 1-800-633-4227 (1-800-MEDICARE) Social Security (888) 862-4811 (Green Bay) or 1-800-772-1213 (national number) Medicaid/Badger Care Plus - Bay Lakes Consortium (Economic Support) 1-888-794-5747 Prescription Drug Helpline (over 60 yrs) 1-855-677- 2783 Disability Drug Helpline (individuals between ages 18- 59) 1-800-926-4862 www.medicare.gov www.ssa.gov www.access.wi.gov www.longtermcare.wi.gov

18. Other ADRC Programming ABCD’s of Medicare Medicare Part D Plan Finder 1-1 Part D Counseling Appointments Medicare Minutes Social Security Basics Combinations of the Above per Request

19. Benefit Specialists Contact your County’s Benefit Specialist for further assistance at: Aging and Disability Resource Center of Brown County (920) 448-4300  Elder Benefit Specialist – age 60 and older  Disability Benefit Specialist – ages 18-59