Government’s disability fund predicted to drain soon
The Social Security disability insurance trust fund is expected to drain three years from now, ahead of Social Security and Medicare, a federal report stated last year. An update on the health of the disability program will be released on May 30 by the trustees of Social Security and Medicare.
Currently, predictions state that Social Security will be exhausted in 2035, while Medicare will be exhausted on 2024. Income security vice president at the National Academy of Social Insurance Virginia Reno said benefits would be stopped, an event which has not happened previously, if the funds ran out. Exhaustion of the Social Security trust fund will result in only 80 percent coverage for the disabled and their families.
If you or someone you know is interested in applying for Social Security disability benefits, you can get all your questions answered by the lawyers at the Hankey Law Office, P.C., by calling 317-634-8565 today.