Social Security lifespan cut by three years, says trustees

According to an annual report by the Social Security trustees, Social Security’s financial lifespan has been shortened by three years to 2033 due to a slow economy and rising energy prices. Similarly, Medicare is expected to run out in 2024.

Since 2008, a record 5.4 million people have received Social Security disability benefits. A draining Social Security fund could also be trouble for Medicare since disability recipients can apply for Medicare after two years.

In just the first four months of 2012, more than 539,000 people have begun collecting disability benefits. An additional 725,000 have submitted applications. Many people apply for SSDI after their unemployment benefits expire.

If you interested in learning more about Social Security disability, contact the Social Security Disability Insurance lawyers of the Hankey Law Office at (317) 634-8565 today.