Social Security Disability Insurance funds expected to be gone by 2016
The funds of the Social Security Disability Insurance program are expected to be gone in 2016, ahead of Medicare and Social Security, a government report stated last year. The surge of people claiming disability benefits is one of the major reason funds are expected to drain relatively soon.
A new report of the disability program’s health is set to be released on May 31 by the trustees of Social Security and Medicare, updating the public on the vitality of the program. New estimates will also be provided regarding when the Social Security retirement trust fund and Medicare’s hospital fund are predicted to run out of funds. In the latest prediction, Social Security will run out of funds in 2035, while Medicare will only last to 2024.
To learn more about Social Security disability benefits and your eligibility for obtaining such financial assistance, contact the lawyers at Hankey Marks & Crider, P.C., by calling 317-634-8565.