Niche Benefits You Might Not Know About
As a seasoned Social Security analyst with a decade of experience at Cosi Agency, I am thrilled to share valuable insights that can significantly impact the financial well-being of individuals navigating the complexities of Social Security. In this blog post, we’ll uncover hidden gems – lesser-known Social Security benefits that could be the key to maximizing your income. If you’re 55 years old or older and find yourself confused and uncomfortable about drawing Social Security income, you’re in the right place. Let’s dive into the world of auxiliary benefits, specifically tailored to enhance your understanding and help you make informed decisions for a secure future.
1. Child Auxiliary Benefits
If you’ve been approved for Social Security Disability Insurance (SSDI), it’s crucial to understand that your immediate family members may be eligible for auxiliary benefits. These benefits, also known as Family Benefits, extend to children. Whether they are biological, adopted, or stepchildren, they can receive benefits until they turn 18, unless they are still enrolled in high school. The total family benefit is split equally among all children, ensuring a steady stream of support.
2. Spousal Auxiliary Benefits
Spousal benefits are an often-overlooked aspect of Social Security. They are paid to a current spouse who is caring for a child under the age of 16. This benefit can be extended if the spouse is caring for a disabled child who became disabled before age 22. The Congressional Research Service emphasizes the importance of these benefits for surviving spouses and dependents, highlighting their role in enhancing income security.
3. About Social Security Auxiliary Benefits
Understanding the broader context of auxiliary benefits is essential. These benefits are paid to various family members of a Social Security-covered worker, including spouses, former spouses, survivors, children, and parents. The amount is a specified percentage of the worker’s basic monthly benefit, subject to a maximum family benefit amount. It’s important to note that beneficiaries qualifying for multiple benefits won’t receive both benefits in full, and adjustments are made accordingly.
4. Applying for Social Security Disability Benefits for Dependents
   While applying for Social Security Disability benefits for yourself is a known process, doing so for dependents requires additional criteria. Spouses must be under age 62 and joint caregivers of children under 16. Even after divorce, a spouse may qualify for auxiliary benefits if the marriage lasted at least ten years. Children must meet specific criteria, including being unmarried, under 18 (unless enrolled in school full time), and, in some cases, disabled before the age of 22.
These hidden gems of Social Security – the auxiliary benefits – can significantly impact your family’s financial security. As you navigate the intricate landscape of Social Security, remember to ask questions about eligibility and specific cases. Our mission at Cosi Agency is to empower you with knowledge, ensuring you make informed decisions about your Social Security benefits. If you have any thoughts or questions, we invite you to leave a comment below. Your engagement is valuable, and we look forward to assisting you on your journey to maximizing your Social Security income.
