Report Shows One-Third of Social Security Disability Benefits Are Used For Medical Bills
January 27th, 2014|
January 27, 2014
Once a disabled person is approved for Social Security Disability benefits, they may still find it difficult to make ends meet. Experts have stated that for the past several decades, Social Security Disability Costs have been significantly greater than the adjustments that are offered to beneficiaries each year.
According to an article released by The Huffington Post, out-of-pocket healthcare costs are one of the leading contributing factors to this problem. Experts say that since 1992, the costs associated with Medicare and related healthcare expenses have been more than 33 percent higher than the cost-of-living-adjustments that are offered to beneficiaries each year. This means more than one-third of a Social Security Disability recipient’s benefits goes to paying their healthcare costs, leaving them with little to cover other expenses.
These high costs have forced many disabled individuals to live on extremely frugal budgets, considering the average household income for seniors is $34,000, while the average income of a Social Security disability recipient is $30,000.
These numbers have prompted some experts to call for changes in the law that would require ill seniors and the middle class to pay higher Medicare premiums than others.
The Social Security Disability Lawyers with Fleschner, Stark, Tanoos & Newlin explain these numbers show the importance of having a reputable attorney by your side during the Social Security disability application process. Doing so helps ensure your rights to fair compensation are protected.