How Will the New Budget Deal Fix the Potential Social Security Disability Problems?
Posted on November 20 2015 by Agnew & Rosenberger, PLLC
On November 2nd, President Obama signed a two-year budget agreement that contained crucial changes to the Social Security Disability Insurance Program.
Trustees of the SSDI Program report that it is facing an urgent threat due to depletion. When the program first started, it contained roughly $150 billion. Sources state that this budget would run out by the end of 2016. Unfortunately, this would mean that beneficiaries could potentially see a near 20% reduction in benefits. However, these losses may be averted due to the new budget deal.
To ensure Social Security Disability beneficiaries are still able to live comfortably, the new budget plan will perform in the following manners:
- It will shift more money from the Social Security retirement program into the disability program
- For the first three years, .57% will be extracted from the 12.4% payroll tax
Analysts state these changes will allow the budget to run efficiently up to 2022.
Other Changes that Will Be Rolling Out
Since 1984, the number of disabled people receiving disability benefits increased from roughly four million to nearly 11 million as of last year. As a solution, the bill will include the following changes:
- Expanded use of investigation to ensure those filing for disability are actually in need of such funds
- Increased penalties for those committing fraud
- Requirements for medical reviews before persons can receive benefits
Are You Unable to Work Due to Physical or Mental Disabilities?
If you are unable to work because of a disabling injury, disease, illness, or impairment, you may be eligible to receive Social Security Disability benefits. At Agnew & Rosenberger, PLLC,our Roanoke Social Security Disability attorneys understand how difficult life can become when you feel you are unable to carry out day-to-day activities due to disabilities and are here to provide you with a solution. When you become our client, we will take the time to understand your condition and work hard to help you achieve a positive outcome.
Don’t settle for how you are living now. Let us help make your life a little easier bycalling our Roanoke Social Security Disability lawyers today!
Share This Article: