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SSD benefits could be curtailed by financial constraints

| Mar 4, 2015 | Social Security Disability

People in Wayne who are having medical issues that they believe meet the federal regulations to be granted assistance from the government are often concerned with whether or not they’ll be approved for benefits. There are certain federal regulations that must be met for the granting of Social Security disability benefits. However, it will do no good for those who are granted SSD benefits for their injury or illness if the U.S. government doesn’t have enough money to fund the program. That issue has been hanging over the program for years and Congress is taking steps to deal with it.

Concerns about the long-term viability of the fund slated to pay for Social Security Disability Insurance is coming to a head, as it is set to run dry next year. President Obama had planned to shift $330 billion in funds to try and avoid the shortfall, but Republicans in the Senate have resisted the concept. Although there is still reluctance on the part of the Republicans, Democrats in the House of Representatives are hopeful that flexibility will yield an agreement. The goal is to make certain that those worthy of benefits will continue to receive them. The President wants to relocate a small percentage of payroll tax revenue from old age and survivor’s benefits (OASI) fund to the disability fund, which would enable the fund would stay solvent until 2033.

Given the nature of the financial struggles that the SSD benefits program is having, the federal regulations are becoming more stringent as to who gets approved. In some cases, even those who are perfectly worthy to receive benefits are denied because of mistakes made when filing. There could be numerous reasons why a person might have an injury or illness warranting approval for benefits. Making certain to file for benefits correctly can be the difference between an approval or a denial.

The government is working on a way to ensure that the SSDI program will be funded for the long-term. It’s been a tough road, but both parties appear to be committed to getting something done. For those who are seeking SSD benefits, this is not a small consideration, as concessions to try and reduce the number of people who are approved for benefits could reduce costs. To make certain that a claimant has a sound chance to receive approval, discussing the matter with a legal professional experienced in claims for SSD benefits is key.

Source: The Fiscal Times, “Congress May Throw Social Security Disability Insurance A Lifeline,” Eric Pianin, Feb. 26, 2015