Disability Planner How much will I Qualify for?
The short answer is no.
When you reach normal SS Retirement Age your status will change from SS Disability to SS Retired WITH NO CHANGE in the amount you are paid. Annual cost of living increases and Medicare Part B Premium deductions not included. The amount of disability pay you are collecting now will not change. Refer to the SSA for accurate and current information. Disclaimer- this is only my intrepretation. Seek qualified expert advice.
If you go to the Quick Calculator Benefit Estimates here-
[url]http://ssa.gov/planners/benefitcalculators.htm[/url]
choose the “Quick Calculator” AND leave the retirement date blank, you will see something like this:
[I]”…Information you submitted Date of birth: 6/15/1950
Current earnings: $40,000.00
Benefit in year-2011 dollars
Retirement Benefit Estimates Retirement age Monthly benefit amount Note 1
62 and 1 month in 2012 $877.00
[COLOR=”Green”][B]66 in 2016 $1,226.00 [/B][/COLOR]
70 in 2020 $1,693.00
Note1: Assumes no future increases in prices or earnings.
We have calculated your benefits by making certain assumptions about your past earnings. Please look at these earnings to see if they appear reasonable to you. You can change them and see the effect on your benefit estimates!
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Disability/Survivor
For disability and survivors estimates,[COLOR=”SeaGreen”][B] we assumed that you became disabled or died today[/B][/COLOR]. We did not use future earnings in calculating those estimates.
Disability Monthly benefit amount
[COLOR=”Green”][B]You $1,154.00 [/B][/COLOR]
Your spouse and children may also qualify for benefits.
Survivors Monthly benefit amount
Your child $869.00
Your spouse caring for your child $869.00
Your spouse at normal retirement age $1,159.00
Family maximum $1,987.10 [/I]
Therefore, there is that ratio again: $1154 Disability pay vs. $1226 Retirement Pay (age 66).
The big deal difference(s)? You collect $1154 from the Date of Eligibility to the termination of the program. And, your spouse will collect the earlier (and greater) disability amount, when eligible. Greater compared to 1/2 of your early retirement in the event your spouse does not have their own earnings record.
Reminder, your spouse qualifies when eligible, your ex-spouse qualifies for half, if you were married long enough and widowers and widows and spouses with school age kids all can collect under certain circumstances.
Another almost useless tidbit-
“…[I]If You Do Not Qualify Under These Rules
Certain aged people who do not qualify for Medicare hospital insurance under these rules may be able to get it by paying a monthly premium. They also must always enroll in medical insurance (Part B) to get this coverage. Certain disabled people who lost premium-free hospital insurance because they work [COLOR=”Red”]can get Medicare hospital insurance again by paying a premium[/COLOR].
Medicare Medical Insurance (also known as Part B)
Almost anyone who is 65 or older or who is under 65 but eligible for Medicare hospital insurance can enroll for Medicare medical insurance by paying a monthly premium. [COLOR=”red”]Anyone aged 65 or older does not need any Social Security or government work credits to enroll in this part of Medicare…[/COLOR]”[/I]
This means that you can ‘buy’ Medicare Part A and Part B without ever having worked a single eligible quarter!
Please contact the SSA for current and accurate information.