Floridians who were concerned about the budgetary issues surrounding the Social Security Administration and the disability program had their fears assuaged recently when President Obama signed a new bill into law. He suspended the debt limit and funded the Social Security Disability Insurance Trust Fund. With these decisions, the potential cut of 20 percent in benefits near the conclusion of 2016 was averted.
Since the payroll tax rate was altered, shifting more money to SSDI, the program will be funded through 2022. This, however, does not automatically mean that the program is completely safe.
To avoid benefits eventually having to be cut, other steps need to be placed on the front burner of current discussion. SSDI has certain rules that provide work incentives to people who are receiving benefits that are under review for possible methods of improvement.
There are other factors that will hinder those who are receiving benefits from making an attempt to get back to work. SSDI recipients could lose their benefits, if they earn more money than the maximum allowable under the level for substantial gainful activity.
If they do, the benefits will stop. Changes under consideration would allow people to try to get back to work without having to worry about being penalized. Since the program is set to be funded through 2022, the SSA has an opportunity to see what works and what does not when it comes to improving the system for both the government and recipients.
Those who are concerned about changes to the SSDI program and how it will affect them need to keep an eye on SSA news, SSA information and issues under current discussion. Speaking to a legal professional experienced in helping claimants understand the ins and outs of disability benefits, as well as how the SSDI program might change is beneficial when seeking or receiving SSDI benefits.
Source: Marketwatch.com, “Crisis in Social Security disability insurance averted, but not gone,” Jason J. Fichtner, Nov. 30, 2015