If you are approved for Social Security Disability Insurance (SSDI), you may receive monthly payments. However, you should know that the amount you get is not meant to replace your former salary. On the plus side, however, if you are approved you can be paid a lump sum (back pay) that helps to make up for the wait. To learn more, read on.
How Benefits are Determined
The SSA uses a complex calculation based on how much you earned and contributed to the system to determine your monthly disability payment. SSDI is part of the FICA deductions that are removed from every paycheck or owed at tax time from self-employed people. Only the last several years of earnings are used to figure out how much you can be paid if you are approved.
You can learn more about how much you can be paid for disability benefits using two methods. You can phone the SSA and get the information or you can register for an account online. While you are on that site, review your earnings record to ensure that it matches what you earned for the past several years. If you see an error, there is a process for letting the SSA know about it. Your benefits are affected by those numbers so make sure they are correct.
Many SSDI recipients see the need to find work to make ends meet. After all, SSDI payments are not meant to replace your previous salary. However, you must report your income to the SSA each month once your benefits begin. If you make more than a certain amount, your benefits can be stopped. It's also important to note that you should not be earning an income of any amount while you are waiting for your approval.
For every month you are waiting for your application to be approved, you may be accumulating back pay. This pay is what you would have earned if you had been approved right after you stopped working. The money is paid in a single lump sum payment, which can help recipients immensely.
Unfortunately, being approved for benefits can be very difficult. If you are turned down, as many are, speak to a Social Security lawyer. They can help you get the benefits you deserve at the appeal hearing. Call a lawyer and find out more about getting approved for Social Security Disability Insurance.
For more information, contact a Social Security Disability lawyer near you.Share