Your Social Security Statement: What Is It and Why Should You Save It? - Genser Cona Elder Law
Social Security Statement

Your Social Security Statement: What Is It and Why Should You Save It?

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This is the time of year when recipients of Social Security will receive an annual benefit statement from the Social Security Administration. This year’s benefit statement will show a 1.6% cost of living increase.

Do not throw this statement away! This document is very important should you need to apply for government benefits (i.e., Medicaid, Veterans Benefits, etc.) in the coming year. Acquiring a copy of this statement can be difficult, especially if the Social Security recipient no longer has capacity to request a new copy.

Below is an example of a benefit statement:

Social Security Statement - What It Is and Why You Should Save It

Be careful not to confuse the benefit statement with the 1099 from Social Security. The 1099 is necessary for filing tax returns. However, a 1099 shows benefits paid from the previous year. When applying for government benefits, you must provide proof of your current income.

As always, contact us if you have any questions. Our Elder Law attorneys are always available to address your questions and concerns. Call us at 631.390.5000 or click here.

About the Author Genser Cona Elder Law

Genser Cona Elder Law is a full service law firm based in Melville, LI. Our firm concentrates in the areas of elder law, estate planning, estate administration and litigation, disability planning and health care facility representation. We are proud to have been recognized for our innovative strategies, creative techniques and unparalleled negotiating skills unendingly driven toward our paramount objective - satisfying the needs of our clients.

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