Social Security benefits are vital for people who need financial assistance. Unfortunately, benefits are not guaranteed. Some funding sources may eventually dry upStudies show that an average of 70,000 Social Security recipients have their benefits cancelled each year. NPR report from June 8th.
Whether you receive Social Security, Social Security Disability Insurance, or Supplemental Security Income, certain events could cause you to lose your monthly benefits, some of which are beyond your control. There are times, such as when your income increases, when losing benefits would be worth it to get the extra income. The type of benefit you receive also matters, as explained below.
Read on to find out why you could lose your Social Security benefits, what to do if your Social Security payments are late, and what you need to know about the future of your benefits.
When you make too much money
Getting a new job while receiving benefits could affect the amount of Social Security you get each month. Here’s what you need to know.
SI: No
Getting a job could mean the end of your SSI benefits. According to the Social Security AdministrationIt depends on your income. Generally, you are eligible for SSI if you: Under $1,971/monthIf your income exceeds that amount, you will no longer be eligible for benefits.
Keep in mind that if you’re working, $1 is subtracted from your payment for every $2 you earn. For 2024, the maximum amount you can receive per month is $943, or $1,415 for married couples.
SSDI:
SSDI recipients can return to work for up to nine months without losing their benefits. This is the SSA’s nine-month probationary period. If you earn more than $1,550 a month after that period, SSA considers it to be a substantial profit-generating activityIn that case, your benefits will be suspended for any month during the 36-month reinstatement period following the end of your probationary period in which your earnings exceed that amount.
If your earnings fall below the equivalent amount during the 36-month period, your benefits will be reinstated. If your earnings rise above the equivalent amount after the 36-month reinstatement period, your benefits will end.
Going to Jail
If you are in jail for more than 30 days, you will receive Social Security and SSI benefits. May be suspendedWhen you get out of prison, you don’t automatically become eligible to collect benefits again. Here’s how it works:
Social Security/SSDI:
If you receive Social Security and your benefits were stopped because you were incarcerated, your benefits will resume the month after you are released. For example, if you are released in May, your benefits may resume in June.
Notes: Benefits received by your spouse or children will continue as long as they remain eligible.
SI: No
If you receive SSI, your benefits will stop while you are in prison. Unlike Social Security benefits, your benefits will resume the month you are released. Any money you receive that month will be a partial payment based on your release date.
But there’s a catch: if you serve more than 12 months in prison or jail, your SSI benefits will end. You’ll need to contact the Social Security Administration. 800-772-1213 Once you are released, submit a new application.
divorce
If you have recently divorced or are planning to divorce soon, there are some provisions that could prevent you from receiving your ex-spouse’s Social Security benefits.
- You were not married to your former spouse for more than 10 years.
- You are no longer eligible to receive ex-spouse benefits because you are now married to someone else. This situation changes if your current marriage ends through annulment, divorce, or death.
- You are entitled to benefits for yourself, and your benefits will be greater than your ex-spouse’s benefits.
Check out our guide to all your Social Security benefits for more information, and how to find out how much Social Security you’ll get when you retire.