Disability insurance program funding and process

People in California who have developed medical conditions or injuries that preclude them from working may be able to apply for disability benefits to help them provide for themselves and their families. While many people might assume that the Social Security Disability program can provide everything they need. However, that may not always be possible. This makes it important for people to carry their own, separate long-term disability insurance policy.

As explained by the FGA, the government-run disability program through the Social Security Administration has been plagued with problems for some time. One of the biggest problems has been a dramatic increase in the number of people applying for these benefits.

Problems hit such a low point that Congress had to step in a few years ago to prevent the entire program from running out of money completely. According to Brookings, in 2015, new legislation was enacted that allowed a short-term increase in the amount of money directed toward the disability program from employee's Social Security deductions from their paychecks. At that time, it was anticipated the additional cash flow would keep the program afloat until 2022.

Some estimates today indicate the program can fund itself through 2032 but that has not solved all of the problems. Anyone who must seek an appeal of a denied claim faces extremely lengthy waiting periods. All of these things together highlight the importance of private disability insurance but also of working with an attorney to help navigate the often complex world of disability claims and appeals.

 

 

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