While Social security benefits can be a lifeline for people in need of financial support, these payments are surprisingly vulnerable. About 70,000 Social Security recipients have their benefits cut off each year, according to a report. June 8 report from NPR.
Whether you are sure Social Security, Social Security Disability Insurance Or Supplemental Security Income, you could lose your monthly benefits in the event of certain events, some of which may be beyond your control. In some cases, such as an increase in income, it may be worth losing your benefits to make more money. The type of benefits you receive is also important, which we'll explain below.
Keep reading to find out how you could potentially lose your Social Security benefits. To find out more, here what to do if your social security payment is late and what to know about the future of your benefits.
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You start making too much money
If you get a new job while collecting benefits, it could affect the amount of Social Security you receive each month. Here's what you need to know.
ISS:
Getting a job could potentially cause your SSI benefits to end, according to the Social Security Administration. It depends on how much money you make. Generally, SSI eligibility is for people who earn $1,971 or less each month. If your income exceeds this amount, you will no longer be entitled to benefits.
Note that if you are working, $1 will be reduced from your payment for every $2 you earn. For 2024, the maximum amount you could receive each month costs $943, or $1,415 for a couple.
SSDI:
For SSDI recipients, you can return to work for up to nine months without losing your benefits. This is the SSA's nine-month trial period. If after this period you earn $1,550 or more per month, the The SSA will consider substantial gainful activity. In this case, your benefits will be suspended during the months your income exceeds the substantial amount during the 36-month re-eligibility period after completing TWP.
If your income falls below the substantial amount during this 36-month window, your benefits may be reinstated. Benefits will end if your income exceeds the substantial amount after the end of the 36-month re-eligibility period.
You go to jail or prison
If you are in jail or prison for more than 30 days, your Social Security and SSI benefits can be suspended. And once you are released from incarceration, you are no longer automatically entitled to your benefits. Here's how it breaks down.
Social Security/SSDI:
If you receive Social Security and your benefits were suspended because you were sentenced to jail or prison, your benefits may be reinstated beginning the month after your release. For example, if you were released in May, your benefits could start again in June.
Note: The benefits your spouse or children receive will continue as long as they remain eligible.
ISS:
If you receive SSI, your benefits will be suspended while you are in prison. Your payments can start again the month you are released, unlike Social Security benefits. The money you receive that month will be a partial payment, based on your release date.
There is one caveat. If your jail or prison sentence lasts more than 12 consecutive months, your SSI benefits will end. You will need to contact the Social Security Administration at 800-772-1213 file a new application once released.
You are getting divorced
If you have recently divorced or are planning to divorce soon, there are certain provisions that would prevent you from receiving your ex-spouse's Social Security retirement benefits.
- You have not been married to your ex-spouse for 10 years or more.
- You are now married to someone else and therefore can no longer receive benefits from your former spouse. This changes if your current marriage ends due to annulment, divorce, or death.
- You are entitled to benefits on your own behalf and the amount of your benefits is higher than that of your ex-spouse.
To find out more, here is a Social security guide for all your benefits. Here's also how to find out how much Social Security money you could receive when you retire.