Social Security Disability Insurance – Some Millennial Thoughts

Social security disability attorneys and law firms have the important task of developing medical evidence in connection with the disability insurance cases they handle. For this they will have to request the claimant’s medical records that are needed to win the claim and submit them to the SSA (Social Security Administration). Typically, to make this process efficient and quick, attorneys can utilize the service of medical record retrieval companies. The attorney will then review the medical records to determine whether the claimant needs to undergo additional testing so that the required medical evidence can be obtained. Here also, busy attorneys are supported by dedicated medical review services that make the review process easy. On the basis of this comprehensive review, the attorney,

• May ask the SSA to schedule a CE (consultative examination) with one of their doctors or request that the claimant get the required testing done on his/her own if needed.
• Will decide which medical records are most pertinent to submit to the administrative law judge in case of an appeal.
• Will decide which doctors to request for supportive statements regarding the claimant’s functional limitations.
• Will make a decision as to what to do with any bad evidence that may have a negative impact on the case.

Concerns Regarding the Social Security Program

Americans are now concerned about the future of social security with news circulating about the funds running dry. The annual report of the Board of Trustees of Social Security states that the SS retirement benefit program expects to have enough cash to pay the promised benefits until 2035. Post 2035, the program will have enough incoming tax revenue to pay about 77% of scheduled benefits. The Administration may adopt certain measures such as increasing the payroll tax, eliminating the taxable minimum, increasing the retirement age, or prohibiting early claiming and so on to save the program.

What’s in for Millennials

Millennials are a group that is concerned about the social security program because they may have to wait until an older age than their parents to claim benefits. Moreover, they are also likely to face an increased benefit cut if they claim payments early. Let us consider what this group can expect from the SSA.

Social security disability insurance: Young Americans who have worked and paid into Social Security even for 1 ½ years in the period of time leading to their disability may qualify for disability benefits. These benefits are distributed beginning six months after the onset of disability. The Administration advises that disabled employees should apply as soon as the disability or health problem begins because the application processing might take three to five months. Children below 18 years of age or a spouse caring for children below 16 who are family members of disabled workers may also qualify for these benefits.

Retirement benefits: Millennials can claim the full social security retirement benefits they are entitled to at the age of 67. For baby boomers this is 66 and for those born in 1937 and earlier this is 65. If a millennial claims payments early at the age of 62, he/she will receive 30% smaller payments compared to a 25% reduction for baby boomers who claim at the same age. On the other hand, millennials who delay claiming the benefits until age 70 will receive 24% bigger monthly payments.

Survivor benefits: If the millennial passes away, social security benefits could be paid to his/her children and a spouse caring for them. It is enough that he/she worked for as little as 1 ½ years in the 3 years before their death. Besides, a surviving spouse or child may also receive $255 as a lump sum death payment.

The SSA has made everything transparent for workers by allowing them to create a My Social Security Account at the Administration’s website. This will enable them to obtain a personalized estimate of what amount they can expect to receive in retirement. It will also tell them how much they are entitled to receive in case they become disabled, and who among their family members are eligible for the benefits in case they pass away. These details are best checked annually to verify accuracy.

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