Disability Claims Skyrocket

November 6, 2013

 While there has been a lot of attention paid lately to the surge in disability payments since the start of the Great Recession, the Social Security actuaries predicted the trust fund would run out in 2016 way back in 1995. That was just after the last time Congress diverted tax revenues to it.

There are several reasons why the number of people collecting federal disability has soared to nearly 11 million, up from 8.7 million in April 2007.

The aging of the baby boomer generation is one of the primary drivers. Workers typically enter the disability program in their 50s. So the spike in recent years is not a huge surprise for simple demographic reasons.

Also, more women have entered the workforce in recent decades, making them eligible for the program should they become disabled.

Certainly, the economic downturn pushed more people into the disability program too. It can be much harder for the disabled to find jobs when the labor market is tight, experts said.   

Despite the increasing claims, disability benefits remain a crucial lifeline for individuals who are unable to work.  

 

If you have questions about Social Security Disability, call Tracy Tyson Miller at 904.981.9812.

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