Congress seeks reform for depleting disability program
The Social Security Administration’s $150 billion disability insurance program is scheduled to be depleted sometime next year, and though the Republican Congress and the bipartisan Social Security Advisory Board have asked for reforms, the current administration is pushing to transfer funds to solve the immediate threat of benefit loss, the Wall Street Journal reported on February 23.
According to data from the Census Bureau, 5.6% of Americans under the ages of 35 to 44 reported a work-limiting disability in 1984, while the percentage of Americans doing the same in 2014 increased to 5.4%. Despite this discrepancy, the percentage of Americans receiving disability benefits has increased in the same time period from 2.7% to 5.7%. Many believe this is due to Social Security fraud.
However, analysts said that demographic factors played a contributing role in the depletion of the disability fund. For instance, older workers who are more prone to incurring disabilities have been increasing, and with more women entering the labor force in the 1970s and 1980s, more people have become eligible for the program.
Should the time comes that you need to file for Social Security disability benefits and you need legal counsel during the process, get in touch with our attorneys at the Hankey Law Firm in Indianapolis by calling our offices at (317) 634-8565 today.