Receiving Social Security Disability benefits can be effective in helping those who are unable to work due to a health condition make ends meet; however, the funds that are used to pay these awards is drying up and could lead to the millions of Social Security Disability recipients not receiving their full benefits.
Social Security Disability payments come from taxes that are collected from the income of workers. As more individuals claim to be unable to work and a large portion of the workforce prepares to retire, there is less money coming into the system.
According to CNN News, these shifts will result in Social Security Disability funds drying up in the next two years. This would mean that benefit recipients would receive only 80 percent of the total award they are given when their claim is approved.
Considering the current average Social Security Disability payment is $1,146 per month, these changes would mean many disabled workers would have to live on a meager $229 per week—a number that is well below the poverty line.
These changes mean it is important for those who are considering applying for Social Security Disability benefits to go ahead and do so before the funding situation becomes more dire. Hiring a qualified Social Security Disability Lawyers may also prove beneficial in helping to ensure you get the maximum benefit payment that is available to you.
At the law firm Fleschner, Stark, Tanoos & Newlin, we are well versed in what it takes to get Social Security Disability claims approved and are here to help. Call us anytime to discuss your situation and determine what the best course of action for your claim will be.
Fleschner, Stark, Tanoos & NewlinN/a
The financial burden that often comes with a serious injury can be too much for many people to bear. Unexpected medical debt, damaged personal property, and the sudden loss of income can impact the budgets of most families. The good news is that a successful injury claim could help reduce that financial strain after a serious accident. Get in touch with a Terre Haute personal injury lawyer with Fleschner, Stark, Tanoos & Newlin to learn more.
© Fleschner, Stark, Tanoos & Newlin