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“Will Social Security be around when I retire?” This is one of the top questions that a lot of people have been asking as far as this program is concerned. In fact, they are not too well-versed about Social Security, given the fact that the program’s handbook has 2,728 rules and thousands of possible interpretations. Indeed, such pieces of information may confuse a lot of Americans.
As such, failure to understand even the simplest of rules in Social Security may result in people not being able to separate fact from fiction. The reality of it all is that people fall prey to certain myths that they dismiss them as truths. To shed light and avoid confusion, below are some of the common Social Security myths and their explanations:
• Social Security is running out of funds.
Although a lot of report projects about Social Security say that the program will run out in 2033, it doesn’t mean that it will totally be gone. These projections only mean that the system revenues won’t be capable to provide benefit payments to the fullest as required by law. In fact, the Social Security Administration (SSA) may potentially reduce benefits by an estimated 22 percent just to make both ends meet.
• Social Security only serves those who are ready to retire.
Social Security is not only a program for retirees. There are also programs that cater to persons with disability through the Social Security Disability Insurance (SSDI) and Supplemental Security Income (SSI). Also, Social Security provides survivor benefits to dependents of workers who pass away.
• It is easy to qualify for disability benefits
Applying for benefits, in general, can be frustrating and really tedious. More than 8 million Americans are receiving SSDI, and the number of applications for such program increases year after year. Of course, the backlog that the Social Security has to battle may result in you waiting for two years or longer.
But then, not all cases are the same. If you have questions regarding on how to qualify for disability benefits, you can contact any of the Los Angeles Social Security Disability Lawyers. Any of the legal representatives will also help you determine what is fact and what is fiction regarding the programs of Social Security.
As such, failure to understand even the simplest of rules in Social Security may result in people not being able to separate fact from fiction. The reality of it all is that people fall prey to certain myths that they dismiss them as truths. To shed light and avoid confusion, below are some of the common Social Security myths and their explanations:
• Social Security is running out of funds.
Although a lot of report projects about Social Security say that the program will run out in 2033, it doesn’t mean that it will totally be gone. These projections only mean that the system revenues won’t be capable to provide benefit payments to the fullest as required by law. In fact, the Social Security Administration (SSA) may potentially reduce benefits by an estimated 22 percent just to make both ends meet.
• Social Security only serves those who are ready to retire.
Social Security is not only a program for retirees. There are also programs that cater to persons with disability through the Social Security Disability Insurance (SSDI) and Supplemental Security Income (SSI). Also, Social Security provides survivor benefits to dependents of workers who pass away.
• It is easy to qualify for disability benefits
Applying for benefits, in general, can be frustrating and really tedious. More than 8 million Americans are receiving SSDI, and the number of applications for such program increases year after year. Of course, the backlog that the Social Security has to battle may result in you waiting for two years or longer.
But then, not all cases are the same. If you have questions regarding on how to qualify for disability benefits, you can contact any of the Los Angeles Social Security Disability Lawyers. Any of the legal representatives will also help you determine what is fact and what is fiction regarding the programs of Social Security.
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