Losing Social Security benefits because of student loans

A large number of Americans rely on Social Security to sustain them in their old age. However, some of them are finding they are receiving smaller checks than they expected. For instance, a new report from the Government Accountability Office showed that approximately 114,000 Social Security beneficiaries above the age of 50 are losing an average of $140 a month because of unpaid student loan debt.

In total, the federal government was able to collect $171 million on defaulted student loans throughout 2015. In a statement, United States Senator Claire McCaskill said the issue of unpaid student loan debts is still impacting the senior citizens. She noted “This report shows us that seniors clearly aren’t immune to the student loan crisis — they’re deeply impacted by this issue to the point that it’s leaving many of them in a dire financial situation,”

It is possible for your Social Security disability benefit claim application to be lost among the millions of Social Security disability claims filed every day. It is important to hire the legal representation of our attorneys at the Hankey Law Office so you can be sure there will be a legal professional who will follow up on your application. Call our Indianapolis offices today at (317) 634-8565 or (800) 520-3633.

Social Security recipients to receive $4 monthly benefit increase

Next year will be the fifth time in a row that Social Security disability benefits receive only marginal increases.

This year did not experience any increase at all. The hike next year will be small because inflation is low this year. On Tuesday, October 18, the federal government informed the public of the cost-of-living adjustment, or COLA. The adjustment affects more than 70 million individuals or around one in five Americans. Unfortunately, the announced COLA will translate into an equivalent of less than $4 of increase to monthly Social Security benefits, which average $1,238.

However, Medicare Part B premiums, which usually come straight from Social Security payments, are set to rise next year and will likely wipe out the entire COLA increase. Under the law, the dollar increase in Medicare’s part B premium cannot be higher than a beneficiary’s cost-of-living raise.

Our Social Security disability lawyers at the Hankey Law Office provide legal services for our clients in Indianapolis and other areas in Indiana, and we help clients file for or appeal claims for federal disability benefits. Seek our legal assistance by calling our offices at (800) 520-3633 today.

Tips for Applying for SSDI Benefits

Almost 1.4 million individuals applied for Social Security Disability Insurance (SSDI) benefits between January and July of 2016. These are complicated, time consuming applications, and many people are denied coverage. However, there are some things you can do to improve your chances of having an SSDI application approved by the Social Security Administration (SSA).

First and foremost, SSDI applicants need to understand which benefits they are eligible for in the first place. You are almost certain to have an application for SSDI beneifts for which you do not qualify denied outright.

Understand that the process of securing these kinds of benefits is lengthy and time-consuming. The SSA is incredibly strict about who it awards benefits to and works hard to make sure it isn’t giving benefits to people who do not truly need them.

Lastly, it is essential to file a claim with the help of a legal representative. Having help from someone who is well-versed in the application process can reduce your chances of having your application denied.

At the Hankey Law Office, we are aware that the filing for Social Security Disability Insurance benefits can be a complex and time-consuming process, which usually presents the claimant numerous complications along the way. Therefore, it is important for a claimant to undergo this process with the help of an esteemed disability attorney by their side. Call our Indianapolis offices today at (800) 520-3633.

Republican lawmakers want to reduce budget for Social Security

Republicans in Congress are pushing an appropriations bill that Social Security Administration (SSA) officials say will lead to budget deficits for the agency.

In an article for The Washington Post, the agency said, “There would be up to two weeks of furloughs for all employees. Additionally, a full hiring freeze would cause service degradation and long wait times and delays.” Since 2010, the SSA’s operating budget has decreased by 10%, but the total number of recipients increased by 12%. Center for Global Policy Solutions president and CEO Maya Rockeymoore said the agency should be given importance. In her words, “Social Security has been the most successful anti-poverty program in U.S. history, helping men and women, children, adults, and seniors from all walks of life.”

Applying for Social Security disability benefits can be a difficult task, especially for someone recuperating from a debilitating disability. Get in touch with our Indiana Social Security disability lawyers at the Hankey Law Office by calling today at (317) 634-8565 or (800) 520-3633 to discuss your case with us.

Social Security report shows Social Security, Medicare reforms should be put in place

In the 2016 Annual Report of the Board of Trustees of Social Security to Congress released on Wednesday, June 22, the trustees overseeing both Social Security and Medicare said more comprehensive reforms should be put in place to avoid cutting health care and retirement benefits to American citizens. In a statement released the same date, Unites States Secretary of the Treasury Jacob Joseph “Jack” Lew said, “Social Security and Medicare remain secure in the medium-term. Nevertheless, future solvency challenges for both programs remain.”

Financing for Medicare took a toll in 2015 due to tax revenue cuts and an increase in spending for inpatient hospital services. The good news, though, is the disability fund, which was predicted in 2015 to run out by the end of this year, is projected to last until 2023.

In line with the challenges ahead, President Obama and other Democrats, such as former Secretary of State and now presumptive nominee of the Democratic Party in the 2016 U.S. presidential election Hillary Clinton and former U.S. Senator from Vermont and former presidential candidate Bernard “Bernie” Sanders, have called for making adjustments to the allocation of the benefits, with an increase for the neediest recipients and with the wealthiest workers footing the highest taxes.

The process of applying for and obtaining Social Security disability benefits is frequently long drawn-out and complex, so it is essential to get the legal help of our experienced Indianapolis disability attorneys at the Hankey Law Office. Call our offices today at (800) 520-3633.

Bill incentivizing disabled people to return to work filed

U.S. Rep. French Hill (R-AR) has introduced H.R. 5409, or “The Social Security Disability Insurance Return to Work Act,” which seeks to modernize disability classifications under the SSDI program and incentivize workers who are considering a return to the labor force.

Hill said that the proposed legislation is expected to bring positive developments to the current SSDI program, noting, “These reforms to SSDI would help keep the program solvent and its benefits available to those who need them. The goal is to develop effective and innovative projects that will incentivize and assist people that want to get off of the rolls and back to work.” Senators Tom Cotton and Mike Lee filed similar legislation the same day Hill introduced his bill.

If your Social Security disability benefits have been indefinitely delayed, seek legal help from the attorneys at The Hankey Law Office. We help clients in Indianapolis and other areas of Indiana to address Social Security concerns and receive the compensation they need. Call our offices at (317) 634-8565 or (800) 520-3633 to speak with a qualified member of our legal team.

Social Security disability fund to deplete by 2034

Social Security’s trust fund will be completely depleted by 2034 if Congress does not take action, the Social Security Board of Trustees’ 2016 Annual Report to Congress revealed on Wednesday, June 22.

At present, if you receive $2,000 a month in Social Security disability benefits, the Social Security Disability Insurance program will only be able to pay you $1,580 per month in 2034. When it comes to Medicare, the trustees predict that the trust fund for Part A, which arranges financial assistance for hospital expenses for senior citizens, will completely run out by 2028. The depletion date is still 11 years later than was projected before Congress approved the 2010 Patient Protection and Affordable Care Act. Costs for both Social Security and Medicare are expected to grow more quickly than the economy for the next 20 years and remain at relatively high levels after.

If you are in need of Social Security disability benefits, hire the legal representation of an attorney at The Hankey Law Office in Indianapolis. Especially if you find it difficult to file for a Social Security disability claim or you need to appeal your claim after a rejection, call our offices today at (800) 520-3633.

Donald Trump wants status quo on federal disability program

The $150 billion Social Security Disability Insurance program would have gone bankrupt at the start of the year had Congress not decided to give it an emergency monetary infusion. Most Americans agree that the system needs some sort of improvement, but businessman and presumptive Republican presidential nominee Donald Trump does not think so.

Instead, Trump is advocating for the status quo when it comes to entitlement benefits such as the federal disability program, which provides income to 11 million Americans. Republicans at the House of Representatives, led by Speaker Paul Ryan, have tried to block the reallocation of funds from the main Social Security trust fund to the disability program, arguing that doing so would weaken the trust fund.

Social Security disability benefits can be delayed indefinitely, even if an applicant has filed the proper documentation for his or her claim. The attorneys at the Hankey Law Office in Indianapolis are prepared to help when you run into problems with your Social Security benefits. Call our offices at (317) 634-8565 or (800) 520-3633 to learn more about our services.

Republicans working to save Social Security disability

Representative Paul Davis Ryan (Republican of Wisconsin), the chairman of the House of Representatives ways and means committee, called a meeting on July 9 in a bid to figure out initiatives and measures that would make it possible to resolve the diminishing funds of the Social Security Disability program, the Huffington Post reported.

Ryan said he wants to prevent the reduction of 20% of Social Security disability benefits that the 11 million recipients of the program may be subjected to next year should the program’s funds continue to stagnate.

Although Congress is working to solve the disability program’s issues, they passed a legislative rule that would prevent the transfer of funds from the retirement program.

The legal team at the Hankey Law Office in Indianapolis serves to protect our clients’ legal rights. If you have a Social Security disability case you need our legal help with, contact a skilled attorney by calling our offices today at (800) 520-3633.

Congress discusses urgent need for SSDI reform

The House of the Representatives Ways and Means social security subcommittee conducted a congressional hearing during the last week of February on the measures to be taken to prevent the insolvency of the Social Security Disability Program.

Earlier that month, the Senate budget committee conducted a similar hearing. Said hearings are being held in relation to the impending dissolution of the SSDI funds come 2016. Without congressional action to realign other funds to augment the SSDI, or provide other sources of funding to allocate to the nearly depleted disability fund, disability recipients and their beneficiaries could see as much as a 19% cut in the funds they receive each month.

Due to the current precarious state of the federal disability program, you may find that claims are more difficult to get approved. If you you need professional help to file or appeal for your rightful disability claim in Indianapolis, contact our attorneys at the Hankey Law Office by calling us at (317) 634-8565 as soon as you can.

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