Question

List and describe the six major categories of benefits administered by the Social Security Association.

Answer 1

Six major categories of benefits administered by the Social Security Association are:

(1) Retirement Benefits

(2) Disability Benefits

(3) Family Benefits

(4) Survivors’ Benefits

(5) Medicare

(6) Supplemental Security Income (SSI) Benefits

Explanations:-

(1) Retirement Benefits: This is the type of benefit which is commonly known to people and they are aware of. These benefits are available for the people of a minimum age of 62 years, who have worked at least 10 years. Even the spouse may also be eligible for this retirement benefits, even though there are not paid into the programme. The amount of retirement benefit varies from person to person depending on factors like pre retirement salary, age at which they started availing these benefits, etc.

(2) Disability Benefits: This benefit is for people who cannot work due to a severe physical or mental disability, which may prevent them from doing substantial work for a year or more. As in retirement benefits, a certain number of years has to be worked to become eligible for disability benefits. This benefit may also be available for spouse of the disabled.

(3) Family Benefits: This benefit is available for the Family members of workers who are eligible for the Retirement or Disability benefits.

Family members includes:

(a) Spouses aged 62 or more

(b) Spouses aged below 62, taking care of a child under the age of 16

(c) Unmarried children under the age of 18

(d) Unmarried children under the age of 19, who is a full time student

(e) Unmarried children of any age who were disabled before the age of 22.

(4) Survivors’ Benefits: This benefit is available to certain members in the family of a deceased worker, provided the worker had earned sufficient social security credits. Certain members in the family includes widows, divorced spouse and children. The amount of benefits depends on certain factors like worker’s age at the time of death, the worker’s salary, the survivors’ ages and the survivors’ relation to the deceased.

(5) Medicare: This benefits provides hospital and medical insurances. Those who already attained the full retirement age or those who receives disability benefits for a minimum period of 2 years becomes eligible for Medicare.

(6) Supplemental Security Income (SSI) Benefits: These benefits are meant for people who are unable to earn sufficient income for their living. This is available to adults with disabilities, children with disabilities and people aged 65 or above. Individuals with enough work history may also be eligible to receive SSI in addition to disability or retirement benefits. These benefits are funded by General Treasury and not by Social security taxes.