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Time is Running Out for These Social Security Loopholes

If you are, or soon will be, a Social Security benefits recipient and haven’t taken advantage of these loopholes (if eligible), it’s time to get on it. April 29th is the last day to use the “file and suspend” loophole, and the restricted application loophole is being phased out. Keep reading to determine if you may be eligible, and what benefits you may reap from these time-sensitive social security loopholes.social-security-loopholes

File and suspend

Married couples, or those who were previously married for at least 10 years and are divorced, may be eligible for “file and suspend” social security loopholes. Current rules by the Social Security Administration state an older spouse may file for benefits at 66 (the current retirement age), and immediately suspend them. The younger spouse can then defer their own claim by claiming spousal benefits. The older spouse can start claiming maximum benefits at 70, while the younger spouse can choose between their own benefits or their spouse’s.

Claims filed after April 29th, 2016 will no longer be able to use the “file and suspend” loophole, so eligible individuals are encouraged to take advantage of it now.

Restricted application

Currently, higher-earning spouses are able to claim spousal benefits equal to half of a claiming spouse’s payment at the age of 66, if the lower-earning spouse in question filed for benefits between ages 62 and 66. Then, when the higher-earning spouse reaches the age of 70, he or she can file for their own benefits, which have now reached the maximum.

If you were at least 62 years of age by January 2nd, 2016, you may still use this loophole. Take advantage by filing accordingly.

Navigating Social Security benefits, especially SSD or SSI benefits, can be tricky. If this is your first time applying for SSD or SSI benefits, or you have been denied, don’t give up—Jenkins Block & Associates can help!

Need representation for a Social Security Disability claim? Call JBA.

When choosing an attorney to guide you through the process of Social Security Disability or Supplemental Security Income, it’s important to hire an individual experienced with the program and its requirements. Consulting an individual who has insight on Social Security and the application process will prove to be extremely valuable in the long run, especially when questions arise or uncertainty on how to proceed.

Before trying to work out intricate Social Security qualifications on your own, contact our office to make sure you understand the program and process. Protect yourself, know your rights: call us and Get JBA First!

Jenkins Block & Associates has 40+ years of experience in successful SSD/SSI cases in Maryland & Virginia, in addition to being a member of The National Organization of Social Security Claimants Representatives. Call us at 1-800-243-2439 or contact us online to begin the process of filing your Social Security benefits!

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