Final answer:
A worker qualifies as fully insured or disability insured under Social Security based on their work history and medical condition, which either must last 12 months result in death, or demonstrate a total and permanent disability. These statuses are essential for eligibility for retirement, disability payments, and Supplemental Security Income (SSI).
Step-by-step explanation:
In the context of Social Security benefits, being fully insured and disability insured refers to whether an individual qualifies for retirement or disability benefits. A worker is considered fully insured when they have completed the minimum required years of work to be eligible for retirement benefits. Individuals may be considered disability insured if they have a medical condition that is expected to last at least 12 months or result in death, or if they demonstrate a total and permanent disability that has lasted, or is expected to last, for at least 5 months. The Social Security program, officially known as "Old-Age, Survivors, and Disability Insurance" (OASDI), offers these protections to eligible workers and their families.
The program, fueled by a dedicated payroll tax, provides a safety net to workers who cannot earn a living due to disability, by paying out monthly benefits. As of the end of 2017, millions of American citizens were receiving disability payments with the average monthly benefit being approximately $1,200. These benefits serve as crucial financial support during periods of unforeseen medical conditions. Furthermore, Social Security also manages retirement benefits and Supplemental Security Income (SSI), which helps individuals with significant disabilities or low-income elderly citizens.
Understanding the requirements for these benefits is essential, particularly for workers who are planning for their future or who are unable to continue working due to a disability.