The Bright Side of Disability: 6 Facts About Social Security Benefits

At one point or another Social Security touches the lives of almost every American family. It is perhaps most commonly known for helping older Americans, but workers who suffer a disability, or families whose primary breadwinner dies, can also benefit from Social Security. American workers can partially plan for their retirement around Social Security, and so, most of the beneficiaries are retirees and their families. Social Security continues to be one of the country’s most popular programs. Let’s look at six facts regarding social security  benefits.

  1. Social Security Disability Insurance is Coverage  Earned

Under the Social Security disability insurance program, workers earn coverage for benefits by simply working and making Social Security payroll tax contributions. Benefits extend to both disabled workers and their dependents. The program also provides lost income to individuals who can no longer work as a result of a disability. You can seek assistance from Darras Law at any stage of the disability claims  process.

  1. Not Just a Retirement  Program

Social Security is not just a simple retirement program. It is designed to provide crucial life insurance and disability insurance protection. According to the Social Security Administration, retired workers and their dependents account for 72% of total benefits paid, while disabled workers and their dependents account for 13% of total benefits  paid.

  1. Provide a Foundation of Retirement  Protection

Regardless of earning levels, Social Security provides a foundation of retirement protection, and doesn’t reduce or deny benefits to people whose income or assets is at a certain level. Compared to private retirement annuities, Social Security provides a higher annual payout per dollar. Means testing is not applied to Social Security and its participants are universal, making it more efficient to  administer.

  1. A Disabled Person Receive Modest Disability  Benefit

Top Social Security disability payments are modest and are just enough to keep a beneficiary above the 2018 poverty level ($12,140 annually for individuals). At the start of 2018, all disabled workers were paid an average monthly disability benefit of $1,197. For many disabled beneficiaries who cannot work, their monthly disability payment makes up the largest portion of their  income.

  1.  Social Security is the Primary Income of Most Elderly  Beneficiaries

Most elderly Americans find themselves relying on Social Security for their income. It helps millions of elderly from sinking into poverty, and also cover basic expenses that can afford them a decent quality of life. According to the Center on Budget and Policy Priorities, the Social Security program lifts 14.7 million elderly Americans out of poverty, and for 36% of them, it provides 90% or more of their  income.

  1. The Disabled Can Work and Still Collect  Benefits

Beneficiaries do not have to be afraid to work because their benefits will not be at risk. In fact, Social Security helps people to re-enter the workforce by offering a number of work incentives. Individuals between 18 and 64 that receive Social Security benefits can participate in SSA’s Ticket to Work program, which provides free employment support services, and also have the opportunity to receive work incentives in the form of cash benefits from Social  Security.

The bright side of disability is Social Security benefits, which can provide a degree of peace of mind to those with limited options. This program goes a long way to provide basic necessities for disabled workers and their families. It is coverage  earned.

All opinions expressed on USDR are those of the author and not necessarily those of US Daily Review.