Showing posts with label Social Security Attorney. Show all posts
Showing posts with label Social Security Attorney. Show all posts

Monday, 23 July 2012

Disabled Roster Growing; Call Social Security Attorney Before You Apply


Here’s a grim statistic: in June 2012, more workers joined the Social Security Disability program than got new jobs, according to two new government reports.
            The Bureau of Labor Statistics reported on July 7 that the economy created just 80,000 jobs in June. That same month, according to the SSA, 85,000 workers were enrolled in the disability benefits program.
            In fact, according to the website Investors.com, since the recovery officially ended in June 2009, 2.6 million jobs have been created and half-a-million more people than that - 3.1 million - signed up for disability benefits, many with the help of a Social Security lawyer or Social Security attorney. That means 19 percent more people joined the ranks of the disabled than joined the ranks of the employed.
            And, at the end of June 2012, a total of 8,733,461 people were on the ranks of the disabled (via the Social Security Administration disability program), a .3 percent increase over the May figure of 8,707,185. At the end of June 2011, the number of disabled totaled 8,403,449, an increase of 330,012, or 3 percent.
            Social Security attorneys know that when unemployment is high and jobs scarce, more people attempt to win disability benefits. People unable to work may go it alone or seek the help of a Social Security lawyer. According to SSA statistics, between April 2011 and June 2012, there was only one month (November 2011) in which initial applications for disability benefits numbered fewer than 200,000. In June 2012, 274,000 applied for benefits, the third highest in that timeframe. A total of 84,766 people were awarded benefits, an increase of 9.53 percent over May.
            During the second quarter of 2010, the number of people classified as disabled and in “payment status” first reached the 8 million mark. Many of these people had the assistance of a Social Security attorney or Social Security lawyer in navigating the often complex process of applying for and obtaining benefits. 
            A Social Security lawyer or Social Security attorney or other advocate typically works on a system that requires no upfront payment; there is no fee until the case is won.
            While the number receiving benefits may seem high, it was 30.9 percent of the number of applicants. Research consistently shows that having a Social Security attorney or Social Security lawyer in your corner increases an applicant’s chances of winning benefits, at least partially because the process is so cumbersome.
            According to the monthly statistical snapshot for May 2012, the number of disabled workers totaled 8.7 million, for 15.5 percent of all SSA beneficiaries. Retired workers totaled 36.1 million, and comprised 64.3 percent of all beneficiaries. Disabled workers received an average monthly benefit of $1,111, while retired workers received an average $1,223.
            Disabled workers’ spouses numbered 165,000 (.3 percent of the total) and received an average monthly benefit of $298, while children totaled 3.4 percent of the total, and numbered 1.9 million. They received an average monthly benefit of $331.
            In general, to receive disability benefits, applicants must be able to show they cannot work because of an illness or medical condition (both physical and mental) that is expected to last for at least 12 months or result in death, and have worked in jobs covered by Social Security long enough to receive benefits. For specifics, and for how the laws apply to a particular case, someone unable to work because of illness or disability should contact a Social Security attorney or Social Security lawyer. Remember, there’s typically no fee until the case is won.

Wednesday, 2 May 2012

Poor health for the Social Security Trust Funds


On April 23, the Social Security Board of Trustees issued a report indicating financial poor health for the Social Security Trust Funds.
            The trustees said in their report to Congress that the combined assets of two trust funds (essentially, for retirees and the disabled) will be exhausted in 2033, three years sooner than projected just last year. At that time, according to projections, there will be sufficient non-interest income coming into the funds to pay about 75 percent of scheduled benefits.
            The Disability Insurance (DI) Trust Fund will be exhausted in 2016, two years earlier than estimated last year. The OASI (Old-Age and Survivors Insurance) Trust Fund will be exhausted in 2035, three years earlier than previously projected. This situation is critical not only to a Social Security attorney or Social Security lawyer, but to all Americans. 
            Trustees also project that the program costs will exceed non-interest income this year, and will remain higher throughout the remainder of the 75-year projection period, and that, over that period, the Trust Funds need the equivalent of an additional $8.6 trillion in today’s dollars to pay all scheduled costs.
            Michael J. Astrue, commissioner of Social Security, said in a press release about the report, “This year’s Trustees Report contains troubling, but not unexpected, projections about Social Security’s finances. It once again emphasizes that Congress needs to act to ensure the long-term solvency of this important program, and needs to act within four years to avoid automatic cuts to people receiving disability benefits.”
            The report summarized that:
            In 2011, costs continued to exceed income (both tax and non-interest income). The size of the deficits is “largely due to a temporary reduction in the Social Security payroll tax for 2011 and 2012,” in which the employee portion of the tax was reduced from 6.2 to 4.2 percent.
            For the combined OASI and DI Trust Funds to remain solvent throughout the 75-year projection period, lawmakers could: (1) increase the combined payroll tax rate for the period in a manner equivalent to an immediate and permanent increase of 2.61 percentage points (from its current level of 12.40 percent to 15.01 percent);1 (2) reduce scheduled benefits for the period in a manner equivalent to an immediate and permanent reduction of 16.2 percent; (3) draw on alternative sources of revenue; or (4) adopt some combination of these approaches. Lawmakers would have to make significantly larger changes for future beneficiaries if they decide to avoid changes for current beneficiaries and those close to retirement age.
            The Trustees recommend that lawmakers address the projected trust fund shortfalls in a timely way in order to phase in necessary changes and give workers and beneficiaries time to adjust to them. Implementing changes soon would allow more generations to share in the needed revenue increases or reductions in scheduled benefits.
            The report pointed out that “Social Security will play a critical role in the lives of 56 million beneficiaries and 159 million covered workers and their families in 2012. With informed discussion, creative thinking, and timely legislative action, Social Security can continue to protect future generations.”