Social Security Benefit Hits $10,092 Annually: Here’s Why

by Victoria Santiago

Thanks to a monthly $800 boost from the Social Security Administration (SSA), thousands can get up to $10,092 in social security benefits. Spousal benefits could add that extra $800 to thousands of people that get Supplemental Security Income (SSI) benefits.

To qualify for the social security benefit, you have to be at least 62 years old, have a child in your care under the age of 16, or have a child in your care that gets Social Security disability benefits. If you’re curious if you’re eligible for the boost, or want to apply, you can do so on the SSA website. You could also either call them or visit your local Social Security office.

Contacting the SSA

However, many SS offices are only open for critical appointments due to COVID-19. The federal agency prefers that people reach out online or call. Depending on what you need, an automated phone line could be your best help. The line is open 24/7 and can help with a variety of common issues. If you need to update your information, request forms to be sent to you, request a benefit verification letter, apply for Medicare help, or more, then the automated line can help. It also has the most up-to-date information on COLA payments, SSI checks, taxes, payment dates, fraud, and more.

In addition to the boost, millions of Americans are expecting to get more checks before the month ends. If you’ve been waiting for your social security benefits in the mail, and they don’t arrive on the expected date, no need to fret. The SSA says that you should wait an extra three mailing days before reaching out about your missing benefits. Payments go out monthly. If you get any type of social security benefits, remember that you cannot withdraw your monthly amount as one lump sum. Additionally, if you have a separate private retirement savings account, like a 401(k), you can take out more money at once if you choose.

Soon, Social Security Benefits Will Be Easier to Get

Under a new executive order, millions of Americans could get social security, food stamps, and other benefits faster. It’s no secret that customer service wait times can be outrageously long. So, late last year, President Biden signed an executive order about that.

The order requires that the Internal Revenue Service (IRS) calls people back, rather than leaving them on hold. The Sun reports that there will also be a new online tool that will help cut down waiting times. This online tool will be for Americans looking for social security benefits.

This order will clearly be helpful in a number of ways. However, no one is sure when it will actually be enforced. As of now, wait times are still long.