Although there are a number of valid reasons to apply for disability benefits there is little doubt that the main benefit is the monthly cash payment. To be considered for benefits an applicant must have a severe physical or mental disability which is expected to last at least for one year and the disability must be such that it prevents you from earning more than what is called the “substantial gainful activity.”
Over and above these specifics there are other valid reasons to apply for disability benefits, here are a few that should be considered.
- Increased monthly income: The amount of monetary benefit you get may be the difference between buying better food, better clothing or improving your health and not. Any income you receive from Social Security disability is over and above any sick leave and workers compensation and increases annually when a cost of living adjustment is applied.
- Past due benefits: As about 75 percent of all applications for SSDI are denied it can take many months at times to finally win your claim. The sooner you begin the application process the better off you are; you are eligible for up to two years of past due benefits. This will come to you as a lump sum and can be a considerable windfall for many, especially those who are in the low income group.
- Reduction in taxable income: Benefits that are paid to you by your employer provided disability insurance which you did not have to pay premiums for are taxable. Benefits paid by Social Security can reduce the amount that you are paid from this insurance plan, hence reduce your tax due.
- Increased retirement and survivor benefits: Your social security earnings record is frozen as long as you are disabled, the length of time that you continue to be disabled is excluded from any calculations of future benefits; this alone often results in higher benefits upon eventual retirement.
- Medicare: people who are granted disability benefits normally qualify for Medicare although you must have received SSDI for two years before becoming eligible.
- Assistance with returning to work: One significant benefit of Social Security is a trial-period of nine months that allows you to make an attempt to return to gainful employment, during this time you will continue to receive your full benefits including Medicare.
It must be understood that Social Security disability benefits are not a form of charity, you pay for them through FICA taxes and you have every right to collect should you suffer from a physical or mental disability.
Browse the site RabinssLaw.com for more information.