Understanding Your Ohio Security Benefit Options

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Social Security Retirement Benefits (SS), Social Security Disability (SSDI), and Supplemental Security Income (SSI) are all benefits that are paid monthly. This post provides an overview of the differences between the three types.

Social Security Retirement Benefits:

  • Almost all American at retirement age can apply for SS. Social Security is funded by SS taxes that are taken out of paychecks.
  • Starting at age 62, application for SS is available, but at a reduced rate, since it is the partial retirement age. Full retirement age is a range of age 66 to age 67 and that age varies based on the year of birth. The amount of benefits received depend on this retirement age in addition to earned income and credits earned while working.

Social Security Disability Benefits:

  • This type of benefit has a work requirement. Disabled people can apply if they have worked 5 out of the last 10 years and had Social Security taxes taken out of their paychecks. It is funded through FICA and Social Security taxes
  • Applicants under the age of 22 can apply for a waiver for the 5-year work requirement.
  • If someone is still disabled at the partial retirement age of 62, they do not need to, nor should switch over to regular retirement Social Security. This could lower the amount received. Once the full retirement age is reached, the benefits will automatically switch over to retirement benefits

Supplemental Security Income Benefits:

  • This type of benefit is the only type not funding by the Social Security Administration (SSA.) It is funded by general taxes.
  • SSI benefit award is based on financial need. It is available to adults and children regardless of work history and there is no work requirement.
  • These benefits are available to those who are disabled, blind, and have limited resources and income.

Author: Tim Misny | For over four decades, personal injury lawyer Tim Misny has represented the injured victim in workers’ compensationbirth injurymedical malpractice, and catastrophic injury/wrongful death cases, serving ClevelandAkron/CantonColumbusDayton and neighboring communities. You can reach Tim by email at misnylaw.com/ask-tim-a-question/ or call at 877.944.4373.

Summary
Article Name
Understanding Your Ohio Security Benefit Options
Description
Social Security Retirement, Social Security Disability, and Supplemental Security Income are three distinct types of benefits Americans can apply for. All three have different requirements regarding age, income, work history, and status of disability.
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