Disability trust fund to exhaust in 2016
According to the Social Security Board of Trustees, the disability trust fund will be depleted in 2016, although the financial condition of Medicare has strengthened, the Washington Examiner reported on July 28.
Public trustee Charles Blahous said the disability program is heavily burdened as a result of increased rates of disability among baby boomers before retirement. In previous years, the Congress reportedly prevented the reduction of benefits. Though Medicare funds have strengthened due to slow increase of health care cost, trustees noted that the program should also be improved. Treasury Secretary Jack Lew stressed the need for immediate reform in the disability program to prevent future problems. Lew supported the idea of salvaging the disability program by getting funds from payroll tax.
The lawyers of the Hankey Law Office believe that many disabled Indiana residents should get their much needed Social Security Disability Insurance (SSDI) benefits while funds are still available. If you are considering filing for disability benefits, call us today at (317) 634-8565 to find out how we may assist you along the process.