In the coming years, the Social Security Administration (“SSA”) will be moving nearly all Americans from paper checks to electronic versions like direct deposit or debit cards. New Social Security beneficiaries must already receive their benefits electronically. Those already receiving benefits will have until the spring of 2013 to switch to electronic receipt. A Tulsa Social Security disability attorney can provide more information about various Social Security benefits.
The SSA suspended paper statements back in April as a result of major financial problems that financial experts predict for Social Security in the coming years. The move will save the SSA money by not having to print the checks, as well as by not having to process lost check claims. The SSA says that it processes 600,000 claims each year for lost or stolen checks.
The move to electronic benefits may impact SSDI and SSI beneficiaries. Because the SSA will deposit benefits via direct deposit or put them onto a MasterCard debit card, beneficiaries will need to have a checking account as well as access to an ATM, tasks which may pose difficulties depending on the severity of a beneficiary’s disability. Benefits statements and locating information will also require internet access, a luxury to which some beneficiaries may not yet have frequent access. More information on forthcoming changes to Social Security benefits is available from a Tulsa Social Security disability lawyer.