Social Security Disability Insurance, better known as SSDI, is a federal benefit program that pays workers who have become so injured that they are unable to return to work. With a combination of an aging workforce, a down economy and an unemployment problem, the odds are against SSDI funding – some even say that the program could reach insolvency by 2016.
MacMillin Slobodien, executive director of Our Generation highlights the incredible growth of this program:
The growth of SSDI has not occurred over night, but has seen a steady increase over the last several decades. SSDI benefits have already grown from 10 percent of Social Security benefits in 1970 to 18 percent today. The number of disabled workers receiving SSDI benefits has multiplied more than six times since 1970, from 1.4 million to 8.9 million in 2012. The number has doubled since 1995. Over that same period, annual inflation-adjusted SSDI benefit payments have risen more than 800 percent, climbing to an all-time high of $135 billion in 2012.
In addition to SSDI, Medicare will also be strained with a projected cost of $130 billion by 2023. With these rising costs, some suggest that the requirements and exclusivity of the program needs to tighten up. It’s already extremely difficult to get approved for SSDI benefits — 67% of people who apply their first time get denied. After you get denied, you must go through the appeals process. 60% those who retain a SSDI attorney for the appeals process get approved while only 40% of those get approved without the help of a lawyer.
Could you imagine how much harder it’s going to be to obtain SSDI benefits if and when they reform the SSDI program?
If you’ve been denied SSDI benefits and you are going through the appeals process, call Thurswell Law. Our team of lawyers is experienced in getting our clients the benefits that they deserve. You’ll never pay a fee unless we collect benefits for you. Call today.