ss work credit
 

This is pretty random but I figured sombody here would know. What does social security count as 1 work credit? Apparently I'm 9 short to qualify for Medicare (I'm 35 so this isn't a pressing issue;)). I guess you need 40 and I have 31. Just curious. :)

Well, I found this link: Quarter of Coverage
Maybe it will help answer your ? Seems it changes from year to year.

Understanding Supplemental Security Income (SSI)-- Social Security Entitlement

Maybe that links better, the other was re: disability income.

Here's a good site to help answer your question. How You Earn Credits

In 2008, you receive one credit for each $1,050 of earnings, up to the maximum of four credits per year.

But there are some other rules that the link above explains.

Thanks y'all.:) I was obviously being lazy and not doing my own research.:o I'm not sure how much I should be concerned about it but I guess I need to figure it out. I've been a stay at home mom most of my life and I haven't worked very much. I'm trying to decide if the credits are important enough to make me consider a part time job.

Lol, do you really believe there will be social security money when you are old enough?

Yes, there will be some form of social security and/or medicare when we all get old. It's hard to believe, but it's true, that about 40% of older adults live off social security alone - no other pension or income. You can't think that our government will just cut off social security and put all these elders out on the street, do you??? Of course, social security may be means based in the future, and as such, those who have incomes or pensions may make too much money for social security. But you just never know what may happen between now and then and I think it is best to be prepared.

So yes, I do think it is important that you try to accumulate enough social security credits. You just never know what might happen along the way.

How do you find out how many credits you have?

You should get a statement from social security once a year that tells you how many credits you have and what your estimated benefits will be.

This was to qualify for Medicare so who knows. I was just surprised by my ss statement and haven't decided if it's concerning enough to do something about or not. Right now I would say I won't need Medicare because my husband's company would cover insurance after retirement but I guess you never really know what will happen. Right now there's no telling how our medical system will even be at all by the time I'm old enough to qualify.

I was hoping a work credit was determined by a certain amount of hours. That would have made it much easier for me to decide if a part time job was worth it.

Right now, because everyone over age 65 is eligible for Medicare (if they have worked enough), company insurances, like your husband's, become your secondary (gap) insurance - not your primary insurance - Medicare is your primary insurance. I would be unsure that they would continue to cover you fully like they are now. See, it is a huge cost savings for companies for their retired employees (and families) when they become eligible for Medicare. Of course, if you are not elgible, then perhaps they will continue to cover you - but I wouldn't count on it. Many companies that are struggling financially right now, are deleting their health insurance for their retired employees. I think it may be fairly common for retirees to not have health insurance through their company after they retire. Of course, we may have some sort of national or universal health insurance at some point, but again, you just never know.

Also, what if something happened to your husband..... you just never know what might happen, so I always recommend to young women that they try to have a plan in place for the future. I do think it is important to stay home with the little ones, but when they are in school or grown is a good time to work on those social security credits!

Thanks- that's great advice!:) My daughter is just about to turn 14 and I do have the time to work. I actually did go back to work a few years ago but only lasted about 4 months because I make so little income it doesn't really make any difference and I hated the lost time. The work credits got me thinking though. I'm only 35 so I know everything will be different by the time I'm 65 but I am considering a part time job because you're so right- It's better to just play it safe.:thumbup: Of course now with the high unemployment rate it's a terrible time to job hunt and I'd hate to take a job from someone who actually needs it for the income but I am keeping it in mind.

Hmm..I don't think Ive ever gotten one of those..

To be eligible for social security or medicare benefits...you have to work 40 quarters...10 years.

Another concern other than medicare benefits when you're older....should something happen to you now (God forbid)...neither your husband nor your children would receive any ss benefits.

Well they are used to me not contributing anything financially so that wouldn't be a shock to our family budget.:p So if 40 quarters is 10 years I wonder how many years 9 quarters is. Anyone feel like doing math?:D

There are 4 quarters in a year...you paid a little over 2 years.

Am I the only one worried about the 10 TRILLION dollar debt?

Actually it's already been proven...by a certain given year (which I don't feel like looking up)...there will be more retirees reaching retirement age than there will be workers putting into the system. We baby boomers are all gonna retire...and there are more of us than any other age group.

I don't expect to ever collect on what I paid into this...stuff. I'd rather put it something myself...I'm a big girl. I don't need the goverment saving anything for me.

Oh I forgot, we aren't suppose to tell the younguns about this, yeah Niki, pay social security, I'm SURE you'll get some money back. :p

I didn't expect to ever collect on my own social security but the Medicare got me thinking. After seeing how much I would have to work to qualify, I think I'll just take care of my own insurance (or supplemental) if the time comes.;)

I think it's important to work while the little ones are at school to earn the work credits. I'm 41 and I have worked for 25 years and have earned enough work credits through 2011. On my way to work on July 6, 2006, I was at a complete stop and waiting to take a left hand turn and BOOM a little old lady hit me from behind then knocked me into another lane and BOOM again. I got rear-ended and also hit in the front. It totaled my new SUV and I broke 4 vertebrae's in my cervical spine. It also messed up my hand, elbow and knee. All the doctor's said it was a miracle that I was alive. It changed my life forever. I lost my job, SUV and had to sell my house. I applied for disability and it took me 13 months and a good attorney to get approved. If it wasn't for the work credits I would never gotten the disability. I will get Medicare Part A that only covers the hospital and not your doctor appts. You have to pay for Medicare Part B and then a prescription Part D to cover all your meds. Lord knows that I have the meds now. My mom's best friend is really sick and can't get disability because she doesn't have enough work credits to get approved. If only she worked while her kids were in school. She could kick herself now. I hope this helps.

This is a perfect example of, "You never know what might happen". Of course, we can't live our life being scared that everything will happen - but thinking about the possibilities makes one much more reflective......

I agree, I'd work to earn those credits

How awful! I hope you are doing okay now.

I know I am very fortunate and I am very grateful but again, since I don't bring any money to our family income I would not need disability if something awful happened and my husband's insurance would cover my medical care. I have plenty to keep me busy and I and my family enjoy me not working and being able to devote my time to other things.:)

I really appreciate everyone's input and I think my question has been fully answered.:thumbup:

Right now I would say I won't need Medicare because my husband's company would cover insurance after retirement but I guess you never really know what will happen. Right now there's no telling how our medical system will even be at all by the time I'm old enough to qualify.


I'm afraid these benefit's may also be changing as time goes on.
My girlfriend and her husband, who was employed by GM before it
closed the plant many years ago had heath insurance for life threw
them. They are getting cancelled in Dec 08 and now need to supply
their own. I also know the teacher's union is fighting to keep it for
their employee's but schools are looking to cancell it as well for future
retiree's. Just can't afford it any longer.