2024 Quarters Of Coverage Ssa

2024 Quarters Of Coverage Ssa. Most people need 40 social security work credits (sometimes called quarters of coverage) to be eligible for monthly benefit checks from the system. This formula and the rounding adjustment are stated in section 203(a) of the act.

These credits, once called “quarters of coverage,” are based on the amount of time you have worked, and, to some extent, the compensation you received for your work. Everyone needs 40 quarters of coverage to be eligible for social security retirement benefits and the premium free hospital insurance of medicare.