Social Security Disability Insurance funds are expected to be drained in 2016, while Medicare is expected to run out of funds in 2026, a 2013 annual report by the Social Security and Medicare Board of Trustees stated. At the start of 2013, the Social Security Disability trust fund ratio decreased by 85 percent, leading to this prediction.
The trustees said the depletion of funds in both the Social Security and Medicare insurance programs is due to several factors: a large population of baby-boomers obtaining retirement benefits and a decreased number of people working, adding to the funds. The Medicare Hospital Insurance funds are predicted to be depleted in 2026 as it is expected to pay more in benefits without bringing in enough income to cover those expenditures.
If you are an Indianapolis resident in need of Social Security disability benefits, get your questions answered and the help that you need from the experienced lawyers at the Hankey Law Office, P.C., by calling 317-634-8565.
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.
A rural worker in Kingman was severely burned after a barrel exploded in a Fountain County town on the afternoon of April 26.
According to reports, a man at Denny’s Tire Services was using a cutting torch on scrap metal when the torch got too close to a barrel, causing an explosion. The explosion threw the 53-year-old worker 20 feet away, while the barrel flew 60 feet in the air, according to Chief Allen Brown of the Kingman Fire Department. The cause of the explosion was uncertain, but according to Brown, the barrel had fumes inside. The man, who was severely burned, was airlifted to Wishard Hospital.
A serious accident like this explosion may cause you a long term disability that can stop you from going back to work again. In such a situation you may be entitled to financial assistance through Social Security disability. Learn about your options by talking with a lawyer from the Hankey Law Office, P.C., at (317) 634-8565.
Five employees were injured after a pyrotechnic facility inside a southern Indiana naval base accidentally exploded on March 28.
A Spokesman for Crane Army Ammunition Activity, Tom Peske, said five employees were injured after an explosion occurred around 5 p.m. during a routine operation clean-up inside Crane naval base, 85 miles southwest of Indianapolis. The pyrotechnic facility, according to Peske, produced illumination mortars used to provide light to soldiers in the military. The injured employees were examined and treated in the hospital, and then were later released.
The pyrotechnic facility was temporarily closed while Crane investigated the cause of the explosion accident.
Unfortunately, an explosion like this can easily cause people to suffer from disabilities that can affect them for a long period of time, leading to significant financial strain. If this has happened to you, call (317) 634-8565 to speak with a lawyer from the Hankey Law Office, P.C., about the possible legal options available to you.
Firefighters responded to the HGG warehouse fire March 10 at 4151 E. 96th Street after an employee noticed the dryers and mattress storage room were on fire, according to investigators. Another factory employee, who tried to put out the fire with a fire extinguisher, sustained injuries after he was suffocated with smoke. He was then rushed to the Community North Hospital.
Firefighters said the fire was difficult to reach because of the smoky conditions, warehouse’s size, and the many products inside the building, but they managed to put out the fire in one hour.
The estimated cost of the damaged warehouse has yet to be determined.
Suffering fire-related injuries, such as those that the worker in this fire sustained, can leave an employee suffering physically and financially. While many Indiana residents have short-term disability insurance to help them through this trying time, not all insurance companies make it easy to access these insurance benefits. If you have found yourself in such a situation, call (317) 634-8565 to speak with the legal team at the Hankey Law Office, P.C., about how you can fight to get the benefits you are likely owed.
A lumber employee who was recently injured at his workplace continues to make progress and recover, according to his relatives.
49-year-old Tommy Woods of Elkhart was taken to the IU Health Methodist Hospital on February 15 when a piece of wood flew into his face after the safety guards of the machine he was using malfunctioned. Woods reportedly sustained several broken bones in his face, including a cheekbone, nose, and jaw. His sister said Tommy could still lose his hearing and is still in need of a feeding tube to eat. These injuries have seriously affected the family, according to his sister, and costs will continue to grow with continued care and therapy.
The family has currently set up a bank account and a Facebook page for those who want to make a donation for Tommy’s medical bills.
Sustaining serious injuries, such as the one Woods has suffered from, can cause both long and short term disabilities. In these situations, you may be able to collect disability benefits that can substantially help with your finances. To understand your legal options in these situations, speak with a lawyer from the Hankey Law Office, P.C., by calling (317) 634-8565.
For many who don’t live in the New England area severely hit by Hurricane Sandy, the event may seem like a distant memory. But for those who’ve lived through it, life is still not fully back to normal. Disrupted mail service in the area has prevented hundreds of thousands of Social Security recipients from receiving their monthly check, Reuters reports.
Despite the fact that nearly 94 percent of all Social Security checks are made through electronic payment, the Social Security Administration reports that 229,000 New York residents, 92,000 New Jersey residents, and 43,000 Connecticut residents still rely on paper checks.
Those who have still not be able to receive their checks can go to the post office to pick them up. Recipients will have to switch to either direct deposit, to a ETA bank or credit union, or to a DirectExpress debit card by March 1st, 2013. Beneficiaries over the age of 90 or those who have filled out a waiver request are exempt from the transfer.
If you or a someone you love is disabled and unable to work, they may be eligible for Social Security disability. Contact the SSDI attorneys of the Hankey Law Office, P.C. to (317) 634-8565 to discuss your options.
A new report published by the Republican staff of the Senate Permanent Subcommittee on Investigations suggests that several lax decisions in Social Security disability claims has contributed to the rising number of SSDI beneficiaries.
They believe judges are so overwhelmed by the increasing number of disability claims that they are approving some cases without adequately reviewing the application’s documents. More than a fourth of 300 claims the subcommittee reviewed showed that the judges failed to accurately address the evidence.
The Social Security Administration has addressed these concerns and says it has implemented stricter hiring standards for judges. It also says it has and will hold judges accountable for lax behavior.
If you or someone you love has questions about Social Security disability benefits, contact the disability benefits attorneys of the Hankey Law Office, P.C. by calling (317) 634-8565.
Despite most experts urging Americans to wait as long as possible, or at least wait until retirement age, before collecting Social Security benefits, the advice may not be right for everyone.
You may want to consider collecting early if you are in poor health and do not expect to live well into your 70s or 80s. While you’ll have a small penalty for collecting Social Security early, it may be worth it to make your life comfortable now.
Similarly, if you need the money now to make ends meet, taking Social Security could be the best option for you. Most people eligible for Social Security start collecting before retirement age.
On the other hand, if you believe you’re highly skilled in finance, it could be beneficial to take out Social Security and invest it yourself. However, if you’re still working or have other income coming in, your benefits could be subjected to income taxes.
To learn more about early retirement and Social Security, contact the Social Security lawyers of the Hankey Law Office, P.C. at (317) 634-8565.
It seems that all the news out there today about Social Security Disability Insurance is negative, showing a dire and worsening situation with no solution in sight. However, few of these news resources delve into why more Americans are turning to federal disability benefits.
One of the biggest reasons more people are applying for Social Security disability is because the Baby Boom generation is aging and reaching retirement age. The odds of developing a disability increases with age, so it makes sense that a large aging population would stress a disability program.
Another reason is that woman have dramatically entered the workforce in the past few decades. As much of these women age and retire, more will apply for SSDI. Changes to the laws in the 1980s also expanded the qualifications for disability benefits.
If you would like to learn how to apply for Social Security disability benefits, contact the Hankey Law Office, P.C. today at (317) 634-8565.
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