People apply for Social Security Disability Insurance (SSDI) because they can receive insurance after they’ve worked for so many years. Several financial planning aspects of applying for SSDI include:

1. Increased monthly income- The Social Security has a regular monthly payment which includes an increase on the annual cost-of-living. All or a portion of their benefits are tax-free at the federal level and some states don’t have tax for Social Security disability benefits.

2. COBRA extension- Under this extension, the worker may continue their health insurance after they left their jobs.

3. Medical benefits and prescription drug coverage

4. Protected retirement benefits

5. Dependent benefits- Those who have dependents under the age of 18 may be eligible to receive benefits.

6. Return-to-work incentives

There are several guidelines regarding SSDI.

Survivor benefits for those with work:

• Life Insurance from social security- When someone dies who has worked and paid into Social Security, survivors benefits goes to certain family members

• How to earn survivors benefits- Maximum of four credits each year depending on the age when he died

• Who can get survivors benefits- Wife/widows/widowers, divorced widows/widowers, children or dependent parents

• Special one-time death benefit- $255

• Benefits for surviving divorce spouses

• How much are benefits? - Depends on the amount of earnings or income

• Maximum Family Benefits

Medicare

Medicare is a health insurance plan for those who are 65 years old or older. Those who have disability or kidney failure can get Medicare. It’s a hospital insurance and/or medical insurance. For the hospital insurance classification, it covers hospital care and follow-ups. The medical insurance pays for physicians' services and some other services not covered by hospital insurance (This is optional).

Secured Information

The information given to Social Security such as the Social Security number, earnings record, age, and address are personal and confidential. The worker’s friends or family can call to take care of his account, but should ne given the permission to do so. He can send either to the office to discuss matters with Social Security. He should give them a written consent that shows he is permitting the friend or family.

However, there are instances when the Social Security is mandated to give information to government agencies. This happens when it is regarding government health or welfare programs, such as "Temporary Assistance to Needy Families," Medicaid, and food stamps. But these programs are prohibited from sharing that information.