If you are familiar with our blog, then you know that Social Security Disability benefits may be available to you if you meet certain federal requirements. Though the initial amount paid to you through your benefits may be helpful, as was discussed in previous posts, they can be changed after a reevaluation of your disability. But your benefit amount can change under other circumstances, too. One of the more common factors that can affect your benefits is your receipt of other benefits.
For example, if you are deemed disabled by the Social Security Administration and receive SSD benefits, those benefits may be reduced if you receive public benefits such as workers' compensation. When you receive SSD, workers' compensation, and any other public disability benefits, then the government caps your benefits at 80 percent of your average earnings prior to the disabling incident. It is worth noting that there are certain public benefits that are excluded from this cap. Benefits obtained from the Veterans Administration and Supplemental Security Income, for example, will not have an effect on your SSD benefit amount.
You should also be aware that your SSD benefit amount may be adjusted once your other benefits expire and/or as you approach retirement age. By keeping an eye on this and discussing with a professional how your benefit amount might be affected, you can better prepare yourself for the financial reality that awaits you.
Though Social Security disability may not be able to give you the full extent of your earnings pre-disability, it can certainly go a long way towards keeping you and your family on firm financial footing. The SSD process, from initial claim to appeal and retention, can be challenging, though, which is why many find it helpful to discuss their unique situations with a dedicated, passionate, and knowledgeable attorney.
Source: Social Security Administration, "How Workers' Compensation and Other Disability Payment May Affect Your Benefits," accessed on May 15, 2016