There has been a lot of talk about the Social Security disability system lately. Many critics hound the program, stating that the fund is mismanaged and too broad in scope. Adding fuel to the fire is the fact that Social Security disability over-payed some $1.4 billion to beneficiaries at the fault of the Social Security Administration. Now, a recently published study has critics renewing their attacks on the system.
According to a study by the Government Accountability Office, the Social Security Administration increased its debt by nearly $15.5 billion in the years between 2005 and 2014. Many are saying that the Social Security disability program is to blame and that the program has grown far beyond what was originally intended. Critics state that vague ailments now qualify for disability benefits and that claims are becoming increasingly difficult to properly assess.
There is no doubt that the Social Security disability system is difficult. Meeting the government's requirements to qualify for disability benefits can be tricky, requiring attention to detail, thorough documentation, and strong legal argument. Yet, the system, as it stands, helps millions of Americans find the financial stability they need when their disability renders them unable to work. Therefore, despite what critics say, those who need assistance and meet the program's requirements should not hesitate to file a claim.
Those considering seeking and those currently receiving benefits should also find comfort knowing that, despite the critics and the seemingly troubling financial challenges the system faces, Social Security disability, at this time, as no long-term solvency issues. So, instead of being fearful for the program and their benefits, those who could benefit from Social Security disability should educate themselves as to what they can do to protect their future.
Source: CNBC, "Social Security disability fund gets dealt another blow," Kelley Holland, Nov. 17, 2015