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Will The Settlement From My Medical Class Action Suit Affect My SS Benefits?
Larry,
I'm 65 on SS. I will be receiving a class action medical settlement, will the settlement affect my SS benefits and will I have to pay back my SS income ?
Regards,
Max
Hi Max. No, proceeds from a legal settlement wouldn't affect your Social Security benefits or require you to repay any Social Security benefits. The income from your settlement could, though, cause some or more of your Social Security benefit to be taxed as income (https://www.ssa.gov/benefits/retirement/planner/taxes.html).
Best, Jerry
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Posted:
August 9, 2021