Social Security disability on verge of insolvency

by Guest Mon Aug 22, 2011 8:05 am

Laid off workers and aging baby boomers are flooding the Social Security disability program with benefit claims, pushing the financially strapped system toward the brink of insolvency.

Applications are up nearly 50 percent over a decade ago as people with disabilities lose their jobs and can't find new ones in an economy that has shed nearly 7 million jobs.

The stampede for benefits is adding to a growing backlog of applicants — many wait two years or more before their cases are resolved — and worsening the financial problems of a program that's been running in the red for years.

http://www.msnbc.msn.com/id/44220205/ns/politics-more_politics/

by TR11005 Mon Aug 22, 2011 11:52 am

Is it true that workers apply for Disability will get the full amount at their normal retirement year. Also wait only tow years before Medicare?

I always thought it was reduced to 60%.

by TOO OLD TO HIRE IN PA Mon Aug 22, 2011 12:46 pm

TR11005 wrote:Is it true that workers apply for Disability will get the full amount at their normal retirement year. Also wait only tow years before Medicare?

I always thought it was reduced to 60%.

I think this part of that article would answer your question. I have a friend who got full benefits at 56 years old when she went legally blind.

"However, if you qualify for disability, you can get full benefits, based on your work history, even before 62. Also, people who qualify for Social Security disability automatically get Medicare after two years, even if they are younger than 65, the age when other retirees qualify for the government-run health insurance program."

by tristen303 Mon Aug 22, 2011 1:32 pm

So much for the BS "Social Security can never run out of money" FYI IOU's from a failing org. don't count as money to further that point, printing money doesn't solve the problem either. So as to not offend the liberals or NeoCons out there let’s not use the term bankrupt let’s say something like unable to fund? Or technically financially insolvent? Anything but BK so the cheap seats don't start chimming in on the verbal nonsense.

by WilliamsonAngel Mon Aug 22, 2011 2:26 pm

My boyfriend is disabled. He's been on SSDI all of his life due to scoliosis and rheumatoid arthritis.

He does not get medicare unless he pays 100/mo for it. He gets very little from disability, not enough to rent a place, there's no public housing available. He's been on that waiting list for two years. If it weren't for family members renting him a cramped room for most of his SSDI, he'd be homeless.

by TOO OLD TO HIRE IN PA Tue Aug 30, 2011 11:14 am

One of the news programs did a whole show once about the abuse of the SSD system. They showed videos of people who were "disabled" doing things they "couldn't" do. It really angered me that these are the very people that have caused the system to deteriorate. Think of all the jobs that would be created to hire extra people to monitor programs like this and welfare. Problem is the same old song and dance that they don't have the money to hire extra people.

My former neighbor and her husband were on SSD and she would always say that you can work and still collect SSD like it was a permanent thing. Duh! Work and collect SSD? Her husband was also one of the cheaters who did carpentry work while on disability for a bad back. I did my own research and came up with the following. Correct me if I am wrong, but you cannot collect SSD and work indefinitely, unless you do so "under the table" and don't get caught.

"Special rules make it possible for people receiving Social Security disability benefits to work and still receive monthly payments.

A trial work period allows you to test your ability to work for at least nine months. During your trial work period, you will receive your full Social Security benefits regardless of how much you are earning as long as you report your work activity and you continue to have a disabling impairment. In 2011, a trial work month is any month in which your total earnings are over $720, or if you are self-employed, you earn more than $720 (after expenses) or work more than 80 hours in your own business. The trial work period continues until you have worked nine months within a 60-month period.

After your trial work period, you have 36 months during which you can work and still receive benefits for any month your earnings are not "substantial." In 2011, we generally consider earnings over $1,000 ($1,640 if you are blind) to be substantial. No new application or disability decision is needed for you to receive a Social Security disability benefit during this period."

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Social Security disability on verge of insolvency

Social Security disability on verge of insolvency

Re: Social Security disability on verge of insolvency

Re: Social Security disability on verge of insolvency

Re: Social Security disability on verge of insolvency

Re: Social Security disability on verge of insolvency

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Re: Social Security disability on verge of insolvency