Social Security Disability Quarter Explained
What is Social Security Disability?
This is one of the most common questions I encounter. Social Security Disability Insurance or SSDI, is a government program that entitles workers who are injured and have not yet achieved full retirement age to receive monthly payments and Medicare.
SSDI is not a handout or a welfare program; it is akin to purchasing car or health insurance. Every pay check that you received during your career had Federal Insurance Contributions Act (FICA) taxes deducted from it. Those FICA taxes were taken out of your pay check to fund Social Security retirement, Medicare and Social Security disability. Your FICA taxes were your premiums paid into Social Security disability program in case you became unable to work prior to retirement.
To be eligible for SSDI, a worker must have enough quarters paid into the system to be covered by the program.
- If you are over 30 years of age you must have earned 20 quarters in the last 10
years, once you stop working you have 5 years of coverage left under SSDI.
- One quarter is earned for every $1,160 that you earn in 2013. To collect your four
quarters in 2013 you must earn $4,640 in covered wages during the year.
You should apply for Social Security disability benefits if:
- If you have been working and paying payroll taxes, and
- you become disabled,
- and you are unable to return to work for at least 12 months.
If this applies to you, I suggest you apply for disability benefits immediately. The longer you wait, the closer you become to losing coverage.