Floridians who have been listening to the news lately might find themselves concerned about the livelihood of the Social Security disability system. It is a legitimate concern because if the SSD system fails, many Americans will be left without much needed compensation to cover their bills at a time when they are unable to work. But, the general public isn’t the only entity to take notice. The U.S. Congress is also searching for a way to keep the system afloat.
Republican Senators Tom Cotton and Mike Lee recently introduced a bill known as the Return to Work Act of 2016. The bill seems aimed at assisting getting temporarily disabled individuals back on their feet, back to work, and off the Social Security disability rolls. This comes at a time when only one-half of one percent of those who receive SSD benefits return back to work, down from six percent in 1982. Those who are deemed able to get back to work will be given a timeline to do so, while those who are permanently disabled will be able to continue to receive benefits.
Many see this bill as a way to keep Social Security disability afloat during a time of inflated costs. According to some reports, the system, which paid out $20 billion in 1970 now pays out $137 billion a year. Though this is a significant increase, it is difficult to attribute the rise to any particular reason. Perhaps, as the bill infers, those who are not truly disabled are taking advantage of the system. But, just as likely is that more individuals are knowledgeable of the SSD system and are receiving the benefits they deserve.
Either way, this bill is not yet a law, and it may never be. In other words, those who are receiving SSD benefits and those who are considering filing a claim should not be afraid. Those who have questions or need assistance should take steps to understand their legal rights.
Source: Insurance News Net, “Cotton, Lee Introduce Legislation to Strengthen and Save Social Security,” June 9, 2016