15 Facts New Yorkers Should Know About the Social Security Disability Insurance Program
If you have suffered from an injury, disease, or chronic condition that is preventing you from being able to work, then you may have looked into Social Security Disability Insurance (SSDI).SSDI provides benefits to individuals who are below the full retirement age of 65 if they are unable to work because of their condition for 12 months or more.
Facts to know about Social Security Disability Insurance:
Disabled workers, their dependents, and survivors of deceased workers account for 28% of the total benefits paid out by the Social Security Administration (SSA)
Nearly 25% of today’s 20 year-olds will become disabled before reaching age 67 and nearly 13% will die
SSDI provides beneficiaries with a regular monthly income
If you have dependents under the age of 18, they may also be eligible for benefits when you receive SSDI
If you have an adult child with a disability that started before age 22, they could be eligible for benefits as well
You can “fast track” your SSDI application to receive benefits quickly if you meet certain requirements
All or a portion of your benefits may be tax free at the state and federal level
You will receive an annual cost of living allowance (COLA) each year to keep pace with inflation
Once you have received SSDI benefits for 24 months you become eligible for Medicare
If you, your spouse, or dependents need health insurance after you leave your job, if necessary you can get an 11 month extension to the standard 18 month COBRA benefit timeframe.
The years that you receive SSDI will not count towards your Social Security retirement calculation
If you have been receiving SSDI benefits and wish to return to work, the SSA’s work incentive program allows you to try.You can work up to nine months in a 60-month period during a “trial-work” program.
If you do the trial-work program and after 36 months your earnings are not substantial during some months, you can still receive benefits for those months.
