Social Security Administration Announces Important Updates

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“Throughout my career I have helped hundreds of families and business owners create strategic plans that identify personal and business goals. I make it my priority to deliver beyond my client’s expectations by helping them strategize the best solutions based on their needs.” Roy SnarrMy dedication and passion has enabled me to build a successful and recognized business and to become a part of the most pristine association of financial professionals, the Million Dollar Round Table (MDRT). An international organization consisting of the top 1% of licensed financial professionals. As a part of my ever-growing financial education I serve as a local Board member for the Society of Financial Services Professionals (FSP). I hold an LACP designation; Life and Annuity Certified Professional.

The Social Security Administration (SSA) recently issued two crucial updates regarding the program. These updates impact how individuals access their accounts and address widespread misinformation circulating online.

Changes to Account Access

If you’re one of the millions of people who manage your Social Security benefits online, you should be aware of upcoming changes to how you access your account. The SSA has announced that individuals who created their “my Social Security” accounts before September 18, 2021, will soon need to switch to a different method of logging in.

In an effort to enhance security and streamline the user experience, the SSA is requiring users to log in through either login.gov or ID.me. These are Credential Service Providers that many other government agencies are already using to bolster online security. This change is part of a broader initiative to protect sensitive information and reduce the risk of fraud.

If you already have an account with either login.gov or ID.me, you’re ahead of the curve—you won’t need to create a new account. However, if you don’t, it’s advisable to set one up as soon as possible to avoid any disruptions in accessing your benefits. The transition to these new login methods is expected to be implemented shortly, so taking action now will ensure a smooth transition.

Beware of False Information on Additional Benefits

In addition to changes in account access, the SSA has also issued a warning about false reports that have been circulating online. These reports claim that Social Security beneficiaries are due an extra $600 in cost-of-living adjustments (COLA) or a $600 stimulus check in 2024. The SSA has made it clear that these claims are entirely false.

The misinformation seems to be originating from websites that prioritize attracting web traffic over providing accurate information. These so-called “content farms” use sensational and misleading headlines to boost their search engine rankings, allowing them to charge more for advertisements on their sites. Unfortunately, this has led to widespread confusion among beneficiaries who might be hoping for additional financial support.

The SSA has emphasized that the only authorized COLA for Social Security beneficiaries will be officially announced in October 2024 and will take effect on January 1, 2025. Any claims about supplementary payments or early COLA increases should be disregarded as they are not based on any official information.

Stay Informed and Secure

As these updates illustrate, staying informed about changes to Social Security is essential for safeguarding your benefits. The SSA is making significant efforts to protect users’ personal information by implementing more secure login procedures and is also committed to debunking false information that could mislead the public.

To ensure you receive accurate information, always rely on official sources, such as the SSA website, and be cautious of any unsolicited messages or online reports that promise unexpected benefits. By staying vigilant and proactive, you may better manage your Social Security benefits and avoid potential pitfalls caused by misinformation.

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About Roy Snarr

“Throughout my career I have helped hundreds of families and business owners create strategic plans that identify personal and business goals. I make it my priority to deliver beyond my client’s expectations by helping them strategize the best solutions based on their needs.” Roy SnarrMy dedication and passion has enabled me to build a successful and recognized business and to become a part of the most pristine association of financial professionals, the Million Dollar Round Table (MDRT). An international organization consisting of the top 1% of licensed financial professionals. As a part of my ever-growing financial education I serve as a local Board member for the Society of Financial Services Professionals (FSP). I hold an LACP designation; Life and Annuity Certified Professional.

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