Posts Tagged ‘ Disability Insurance ’
Since 1990, the number of people receiving disability payments from the SSA has more than tripled to over eight million—perhaps not surprising when you consider that the real value of the monthly benefits a person can collect has risen almost 60 percent in the past thirty-five years. The federal government now spends more on disability payments than on food stamps or unemployment benefits. What does this mean? Read more
It is also worth noting that some, perhaps many, of the departures from the labor force by low-skill individuals may actually be prompted by certain government programs. We refer here to a portion of the Social Security program that has expanded dramatically over the past 20 years. It involves disability payments.
Originally established in 1956 as a program to help individuals under age 65 who are truly disabled, Social Security Disability Insurance (SSDI) has become the federal government’s second fastest growing program (after Medicare). The real value of benefits has steadily risen as the Social Security Administration (SSA) gradually made it easier for individuals to meet the legal criteria for “disabled†status. Read more