SSA Overpayment Recovery: What You Need to Know

#SSARecovery #BenefitChanges #FinancialNews

Transcript

00:00Say, Overpayment Recovery

00:01What you need to know the Social Security Administration is embarking on a major initiative to recover billions in accidental overpayments.

00:10This directly impacts beneficiaries and staying informed is crucial.

00:15Starting in late July 2025, specifically around July 24th, some individuals may see a reduction in their Social Security payments.

00:23If you've been overpaid and haven't yet started repayment or arranged a plan, the SSA could withhold 50% of your monthly benefits.

00:32But there are options.

00:33The SSA offers various repayment methods, including online bill pay, credit card, or check.

00:40You can also request a waiver if the overpayment was unto your fault or if repayment would cause financial hardship.

00:46A waiver might be granted if you're not at fault, can't afford to repay, or if repayment would simply be unfair.

00:54Money expenses.