Social Security & You: What To Do If Your Social Security Number is Leaked

Social Security & You

Social Security matters. According to government statistics, more than 70 million Americans receive some form of Social Security. The program has been supporting retirees for more than 80 years.^1,2

It’s also a lot to wrap your head around! Social Security is a complex topic, and most retirees have questions. For example, what do you do if your Social Security number is leaked or stolen? What is the important relationship between Social Security and Medicare?

There’s a lot to talk about when it comes to Social Security. If you have questions beyond the important topics below—for instance, about how Social Security fits into your overall retirement strategy—we should connect, even if you’ve already made claiming decisions. Give our office a call, and we’ll set up a time!

My Social Security Number Was Leaked! What Should I Do?

The first Social Security number was issued in 1936, long before the digital age. As Social Security numbers became increasingly used for financial transactions, criminal marketplaces have sprung up to sell illegally obtained information and other critical personal data. Criminals often use this information to access banking, investment, or other private data or file for unemployment or other government benefits.^2,3

If you’ve been the victim of criminal identity theft, the Federal Trade Commission encourages you to file a report on identitytheft.gov and a police report. Even if your local law enforcement doesn’t pursue the crime, you’ll still have documentation that may help as you resolve any issues that crop up.

Second, the Department of Justice says you may consider requesting a credit freeze or placing a fraud alert with the three major credit bureaus: Equifax, Experian, and TransUnion. The request will not negatively impact your credit score and can give any businesses that check your credit a valuable opportunity to verify your identity more thoroughly.⁴

As they say, an ounce of prevention is better than a pound of cure. In the case of Social Security numbers, remember to be a good steward of your data! That means leaving your Social Security card in a secure location and not sharing it with a business unless you’ve verified their legitimacy. Check your credit report annually, and shred/delete any documents that contain the number once no longer needed.

Milestones in Social Security History

August 14th, 1935: Social Security Act signed into law by President Franklin D. Roosevelt

^{Source: SSA.gov, 2024}

What’s the Relationship Between Social Security and Medicare?

Social Security and Medicare are separate government benefit programs, except for one crucial link: the Social Security Administration is responsible for enrolling individuals into “Medicare Part A” hospital and “Medicare Part B” medical insurance.⁵

Here’s the wrinkle—full retirement for Social Security and Medicare eligibility was once at age 65, and it was relatively easy to set up both simultaneously. The full retirement age for Social Security has shifted for those filing for benefits.

Expect to get a Medicare enrollment package from the Social Security Administration about three months before the month you turn 65. You’ll have seven months to sign up. Medicare encourages first-time filers not to miss this critical deadline; they may face late fees if not enrolled on time!⁶

Once you’ve begun taking Social Security benefits, Medicare Part B premiums can be deducted directly from your benefits. (The Social Security Administration says most individuals won’t need to pay a Medicare Part A premium.) You can even have your Medicare Part D/Medicare Advantage premium directly deducted!⁷

^{1. SSA.gov, 2024}

^{2. SSA.gov, 2024}

^{3. IRS.gov, 2024}

^{4. DOJ.gov, 2024}

^{5. SSA.gov, 2024}

^{6. Medicare.gov, 2024}

^{7. SSA.gov, 2024}