Health Insurance Issues
August 24, 2011 - 6:53pm
News about s.s. Disability insolvency
I have been seeing and reading - it is so all over the news
That the s.s. Disability fund is going broke. It seems as
If the general public hopes everyone who has somehow managed
To receive disability will lose it.
I can't believe the government could cast off so many disabled
People. I find it hard to relate to how malicious the news
Reporting is or maybe I am just over sensitive.
I did not realize that s.s. Retirement and s.s. Disability
Were two separate funds.
Any thoughts?
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All those funds are going broke if things don't change, but it doesn't mean anyone on the programs will go without pay. It is the same thing as with Social security income. But should you have any worries contact your congressmen or senator over the issue, they will have the most current information.
This is just fear mongering by the republican party. SS is solvent for 75 years, and is reviewed every year by a committee. They may need minor changes to last 75 years. The problem is the government has spent the SS money instead of putting it into the trust fund. I also beleive that SSDI and SS come out of the same fund.
Susie,
Hi, noticed your post about you hearing about "SSDI going insolvent". I've heard and read various reports about what could very well happen with the increase of funds spent, in reserve / not in reserve, etc.
You probably were aware, and as Tamtam posted and replied, "if changes aren't made...' there are many examining and analyzing the issues of Social Security, SSDI, and Medicare problems, insolvency in future and Congress repeatedly putting it on the table to deal with real concerns and problems that are there and in the future - - and govt. analysts reviewing all data and funds involved, decrease of those paying into the funds, employed and non-retirement age, etc., say it could be "not so distant future" for SS and other govt. benefit funds, i.e. SSDI
I found an article reporting those concerns, that was in The Wall Street Journal, reporting what government analysts and financial experts are analyzing reporting on the very subject of "Insolvency of SSDI' in this past March, 2011 issue. (copy of link for the article appearing on The Wall Street Journal on-line below)
Report is quite interesting and quite comprehensive about the many issues of the SSDI funds, and in particular, a major issue reported of wide variances in percentage of benefits awarded State by State; which I had never seen covered before.
Well worth the read of re: govt. analysts deeply concerned if changes aren't made, the huge increases in people needing benefits, those being approved, funds spent, since past decade, etc. Whether you are receiving SSDI or not, it's affecting many people's lives, on Social Security, Medicare, Medigap Insurance, etc. and what are valid forecasting the real numbers and appropriation of those funds.
Copy of Link & Couple of Highlights in Article - -
THE WALL STREET JOURNAL
POLITICS - MARCH 22, 2011
Insolvency Looms as States Drain U.S. Disability Fund
Here's a short exerpt from the article/report ~
"The SSDI is set to soon become the first big federal benefit program to run out of cash—and one of the main reasons is U.S. states and territories have a large say in who qualifies for the federally funded program.
Without changes, the Social Security retirement fund can survive intact through about 2040 and Medicare through 2029. The disability fund, however, will run dry in four to seven years without federal intervention, government auditors say.
In addition to the uneven selection process, SSDI has been pushed to the brink of insolvency by the sour economy. A huge wave of applicants joined the program over the past decade, boosting it from 6.6 million beneficiaries in 2000 to 10.2 million in 2010. New recipients have come from across the country, with an 85% increase in Texas over 10 years and a 69% increase in New Hampshire."
LINK
http://online.wsj.com/article
SB10001424052748703752404576178570674769318.html
Joydancer
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anything the press says!
And if SSA was that close to insolvency, would it give its recipients, whether disabled or retired (I believe it all comes from the same pot), a 3.6% raise effective January 1, 2012?
essmoe29