What is the difference between Social Security disability and retirement?

The biggest difference is that Social Security disability benefits may payable at any age while the minimum age for retirement is age 62.

In general, disability benefits are higher than retirement benefits with a few exceptions:

• There is no advantage to applying for disability after your full retirement age (FRA) unless you can qualify for at least one month's benefits before your FRA month.
• If you receive worker's compensation benefits that offset all or part of your Social Security disability AND are at least age 62, you may elect to receive a higher retirement benefit until the worker's compensation payments end.

Can't afford to wait several months to hear whether your medical condition qualifies for disability? If you are between 62 and your FRA, you can apply for a reduced retirement at the same time you apply for disability. Your initial benefit will be less but you will get your retirement each month while you are waiting to hear about your disability claim. If you are approved, Social Security re-figure your benefits to the higher disability rate.

And if you are approved for disability benefits effective with age 63 or earlier, you will qualify for Medicare before age 65. There is a two year waiting period for disability Medicare that begins with the first month you are eligible for a disability payment.