In the latest report from the Social Security trustees, coverage for those with disabilities (Social Security Disability Insurance [SSDI]) will exceed the amount coming in from payroll taxes by the beginning of 2013, and it will run out completely by in 2016, reports The Washington Post.
As it has done in the past, Congress can replenish the disability insurance trust fund by refiguring the share of payroll taxes that flow to Social Security retirement and to disability accounts.
In 2011, SSDI paid out more than 20 percent of all Social Security benefits–both on retirement and on disability. That was about $130 billion, with another $90 billion going to Medicare for these beneficiaries, who are entitled to health coverage after two years of disability.
Since 1990, the number of workers with disabilities has nearly tripled for several reasons, including: the aging of the population and the economic downturn, during which disability claims have spiked 25 percent.
Disabled workers would prefer to work when and if they can, but SSDI rules limit the amount and type of work people can perform while collecting SSDI benefits. If people choose to work beyond these limits, they may lose their rights to benefits.
For disabled workers, there may be less physically taxing employment options thanks to technology.
If you or someone you know lost your benefits or need to learn more about getting back to work while collecting Social Security Disability benefits, contact the Social Security Disability lawyers at Fleschner, Stark, Tanoos & Newlin.