Sunday, March 5, 2017

Crucial Reforms Suggested for Social Security Disability for Children and Others

Social Security Disability Insurance (SSDI) maintains the goal of helping individuals with disabilities and impairments. Giving financial support so they can have medical attention and other special needs eases a lot of burden not only on individuals but their families as well.

In the past decade or so, however, calls for reforms have been on the upswing, especially in light of what appears to be the system’s shortfall. As reports would have it, Social Security could possibly be at a loss by as much as $11.4 trillion. This means that Social Security’s lifespan could be put to a grinding halt by 2023, by which time the resources for the Disability Insurance Trust Fund would have been already depleted.

With this scenario, it’s easy to see why the alarm has been raised. A shutdown in the SSDI system would mean that only 89% of the benefits will be paid out by the year 2035, which is also roughly around the same time that the Old-Age and Survivors Insurance Trust Fund would have been exhausted. Beyond this time, only 77% of the benefits would be paid out. Read more from this blog:

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