According to recent reports, it was found that the number of Americans applying for SSD benefits is decreasing. The decade long trend of increasing number of applicants has started to reverse. This is promising, as the ongoing trend was threatening the solvency of the program.
In fact, the drop was so significant that the SSA was able to revise its estimates on how long the program with remain financially secure. Previously, it was expected that the program would be depleted by 2023. Now, based on current data and numbers, the program is expected to remain until 2032. They believe that this drop is due to stronger economic growth, tighter standards for eligibility and an increasing number of baby boomers leaving the program because they are now eligible for Social Security retirement benefits and Medicare.
While there are less applications coming in for SSD benefits, this does not mean disabled individuals are not seeking these benefits for necessary financial assistance. No matter the cause of your disability, it is important to understand your rights and whether you are eligible for these benefits.
