Study Indicates Increases In Payouts of Social Security Disability Benefits
November 26th, 2013|
November 25, 2013
The Social Security Administration oversees the distribution of disability benefits to millions of Americans who are unable to work due to a mental or physical condition. However, the Social Security Disability Lawyers with Fleschner, Stark, Tanoos & Newlin contend that many experts believe the growing number of individuals receiving assistance through the program may cause funding to dry up.
An article from The New American explains that in January 2009, there were roughly 7 million recipients of Social Security Disability benefits. In January of this year though, the number of claimants had swelled to more than nine million, not including the approximately two million spouses, dependents, and children of disability benefit recipients.
This increase has decreased the surplus funds in trusts established to pay benefits from $216 billion in 2008 to an estimated $100 billion earlier this year. Experts add that if the program continues to pay out funds at the current rates, there will be nothing left in the trusts three years from now.
A team of experts offered several steps the government could take that may help ensure the longevity of the Social Security Disability Benefits program.
The law firm’s team of attorneys are aware of how the current status of the Social Security disability program may make it more difficult for new claims to be approved. That’s why the firm urges anyone considering applying for Social Security benefits to discuss their legal options with a qualified attorney first.