When today’s 48-year-olds retire in 2034, both the Social Security Administration’s disability and retirement funds are projected to be completely depleted. According to Social Security disability trustees, if Congress doesn’t make moves to prevent this from happening, Social Security disability funds could be depleted by the last quarter of 2016. This move is via Congressional reallocation, which both the House of Representatives and the Senate – working together – last did in 1994 when they moved money from the retirement fund to the disability fund.
Social Security disability trustees said on Wednesday, July 22 that the healthcare spending slowdown has shored up the funding outlook for the disability program. They added that because of this, the government would only be able to give out 86% of the scheduled benefit payments.
The Social Security disability insurance program provides much-needed financial assistance for individuals with disabilities who qualify. If you live in Indianapolis and you need legal assistance filing for Social Security disability benefits, contact the experienced attorneys at the Hankey Law Office by calling (317) 634-8565 today.
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.
The Social Security disability system is a security net for 90% of American workers and their families, in case they become disabled and are no longer able to work for their wages, an article on the Center for American Progress website stated on June 16.
The Organization for Economic Cooperation and Development (OECD) has attested to the stringent requirements of the program’s eligibility criteria, as only those with significant disabilities and illnesses may qualify.
An American citizen who was worked for a certain length of time and who has had the misfortune of suddenly contracting a disease or an illness can seek comfort in the Social Security Disability Insurance program. If you wish to file for Social Security disability benefits in Indianapolis, let our attorneys at the Hankey Law Firm help you throughout the complicated application process. Call our offices today at (317) 634-8565 to discuss your situation.
The Office of the Inspector General revealed the Social Security Administration overpaid disability benefit recipients during the period of October 2003 to February 2014 by nearly $17 billion, $8.1 billion of which was regained, according to Townhall.com on June 7.
According to the report, some of the payments were handed out to people who were in prison, those who had already passed away, or those who made too much to qualify.
Despite all of the politics currently surrounding the Social Security Administration’s policies, the legal team at the Hankey Law Office knows that many people in Indianapolis truly need disability benefits in order to support them and their families when they are unable to work. If you are in this situation, our experienced attorneys may be able to help you apply for or appeal for the benefits you need. Call our offices at (317) 634-8565 today to discuss your situation in confidence and learn about your best options moving forward.
As identity theft is a fast-growing crime in the U.S., there are many instances in which a person uses someone else’s Social Security number for fraudulent reasons. In this scenario, what can the Social Security Administration do?
An identity theft victim needs to provide proof that his or her Social Security number has indeed been stolen. Before this, however, you need to contact the Federal Trade Commission to inform them that someone else is using your Social Security number, so they can provide you with another one. Without taking action to prevent the identity theft, your disability benefits, or other transactions you need a Social Security number for, may be affected.
If you have decided to apply for disability benefits in Indianapolis, the attorneys at the Hankey Law Firm may help you through the complicated legal process. To learn how we may help you complete a thorough and accurate application or appeal for benefits, call our offices at (317) 634-8565 today
A person receiving Social Security disability benefits may attempt to go back to work through a trial work period while still receiving benefits, the Grand Forks Herald reported on May 16.
The recipient must alert the SSA of any work income. A trial work period is incentive for disability recipients to try to get back into the workforce. For a nine month period, you may receive full benefits while earning work income. Additionally, the nine months do not need to be consecutive but rather consist of nine months within a consecutive 60 month period. A minimum of $780 earned or more will generally count as a trial month.
At the end of the trial, your income will be reviewed to see if constitutes substantial gainful activity (SGA); earnings typically must be at least $1,090 per month to qualify. This is when benefits will stop being paid. If the SGA drops within a certain time period, benefits can be reinstated without a new SSDI application.
The attorneys at the Hankey Law Office in Indianapolis help people file for Social Security disability benefits. Call our offices at (317) 634-8565 to learn more.
According to nonprofit organization Center for American Progress, instead of passing a measure that would effectively terminate concurrent benefits of Social Security Disability Insurance and unemployment insurance, Congress should instead put into practice policies that would encourage more people with disabilities to rejoin the workforce.
CAP’s poverty to prosperity program director of policy Rebecca Vallas said that for the fewer than 1% of people receiving disability and unemployment insurance who qualify for both insurance programs, the average combined benefit is only $1,100 each month, meaning cutting these benefits would seriously jeopardize these individuals’ ability to sustain an adequate quality of life.
Our attorneys at the Hankey Law Office are prepared to help individuals who need to file Social Security disability benefits in Indianapolis or address any disability claim concerns and issues regarding the Social Security Disability Insurance program. Call our offices today at (317) 634-8565 to speak with a member of our legal team.
The AARP has just released a new book titled AARP’s Social Security for Dummies, 2nd Edition, according to aarp.org.
The book is meant to be an informative and easily accessible resource that details everything there is to know about the Social Security Administration, its programs, and its relevance especially to the average retiree. Among the information included within the book is how the SSA’s policies work, which policies cater to a citizen’s specialized needs, and how to make use of Social Security programs to improve your overall retirement plan.
AARP’s Social Security for Dummies, 2nd Edition can be bought online and at retailers all across the country in print and electronic formats.
While this is a great resource, the lawyers at the Hankey Law Office also understand that this book can’t address your individual concerns. We can answer any questions you have, help you with filing, and more. Call our offices today at (317) 634-8565.
People who receive monthly Social Security Disability Income (SSDI) benefits receive a form entitled SSA-1099 which tells you how much money you received in benefits throughout the year, according to a Fox Business article on March 25.
However, the form does not indicate how much, if any, of these benefits are taxable. If you use the IRS Free File tool, the software will automatically determine the taxable amount of your benefits. If you file single, your benefits likely will not be taxed unless you make over $25,000–$32,000 if you are married. If you are married and lived with your spouse any time during the tax year but you file separately, all of your disability benefits are taxable.
The Social Security lawyers at the Indianapolis-based Hankey Law Office are committed to assisting you in filing for Social Security disability benefits. Call our offices today at (317) 634-8565 to speak with a member of our legal team.
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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