Posts in:June, 2018

SSA Trust Fund Extended To 2034

Posted June 29, 2018 by Premier Disability Services, LLC®

The Social Security Board of Trustees released its annual report on the financial health of Social Security’s combined trust fund reserves earlier this month. The Old Age and Survivors Insurance and Disability Insurance (“OASDI”) trust funds are expected to be depleted in 2034. At that time, recipients would only be eligible for 79 percent of their estimated benefits unless Congress takes action to strengthen the programs that fall under the Social Security Administration’s umbrella.

Last year alone, SSA paid out $941 billion to 62 million beneficiaries. Total expenditure by SSA for 2017 amounted to over $952 billion. SSA brought in a total income of $997 billion for 2017.

At the same time, the total number of Americans seeking Social Security disability benefits is plunging, a startling reversal of a decades-old trend that threatened the program’s solvency. It is the latest evidence of a stronger economy pulling people back into the job market or preventing workers from being sidelined in the first place. In fact, the drop is so significant that the agency has revised its estimates of how long the program will continue to be financially secure. Two years ago, the government had warned that the funds might be depleted by 2023, as opposed to the new estimate of 2034.

In addition to stronger economic growth, the drop reflects newly tightened standards for eligibility and the increasing number of baby boomers who are leaving the program because they have become eligible for Social Security retirement benefits and Medicare. Fewer than 1.5 million Americans applied to the Social Security Administration for disability coverage last year, the lowest since 2002.

While SSA has helped countless numbers of retirees and disabled individuals since 1935, there is no guarantee that it will continue to exist in the exact format that we are used to seeing. Keep in mind that the programs administered by SSA were never meant to be complete income replacement programs. Rather, SSA is set up to operate like any other insurance program and is meant to supplement people’s savings and other private investments. Thus, it is important to continue to try to save for your future independently to what you expect to receive from SSA down the line. After all, you have no idea what SSA will look like by the time you retire or if you are affected by disabilities.

SSA Trust Fund Report:

See also:

By: Thomas Klint of Premier Disability Services, LLC®

June is Alzheimer’s & Brain Health Awareness Month!

Posted June 22, 2018 by Premier Disability Services, LLC®

June is National Alzheimer’s & Brain Awareness Month, a time dedicated to increasing public awareness of Alzheimer’s disease, available resources, and how people can get involved to support the cause. An estimated 50 million people worldwide are living with Alzheimer’s and other dementias. On June 21, 2018, the Alzheimer’s Association celebrated The Longest Day to help raise funds and awareness for the disease, as well as to honor the strength, passion and endurance of those facing Alzheimer’s with a day of activity. You can raise awareness by wearing purple, or by partaking in the “Purple Pledge” online.

The Social Security Administration includes early onset Alzheimer’s on its list of conditions under the Compassionate Allowances initiative, giving those with the disease expedited access to Social Security Disability Insurance and Supplemental Security Income benefits. The Compassionate Allowance List also includes less common brain diseases such as: Adult-onset Huntington disease, Creutzfeldt-Jakob disease (CJD), Frontotemporal dementia (FTD), Pick’s disease – Type A, Lewy body dementia, Mixed dementia, Primary Progressive Aphasia (PPA), Progressive Supranuclear Palsy (PSP), and The ALS Parkinsonism Dementia Complex.

If you or someone you know is unable to work due to a medical condition, please contact us for a free evaluation of your claim!

Visit the Alzheimer’s Association:

Take the Purple Pledge:

By: Joyce Trudeau of Premier Disability Services, LLC®

Social Security Testifies Before Congress

Posted June 15, 2018 by Premier Disability Services, LLC®

Social Security Testifies Before CongressActing Commissioner Nancy A. Berryhill testified before the House Ways and Means Subcommittee on Social Security on May 17, 2018. Speaking on the topic Securing Americans’ Identities: The Future of the Social Security Number,” she said the following:

“While not intended, the SSN has become the personal identifier most broadly used by both government and the private sector to establish and maintain information about individuals. Before the widespread use of the SSN outside of Social Security programs (for purposes such as establishing credit), there were few incentives to obtain fraudulent SSNs or counterfeit cards. However, as the use of the SSN expanded, so too did incentives to obtain fraudulent SSNs, giving rise to concerns about the integrity of the number and card. Working with Congress, we have made changes to protect the integrity of the number. These efforts focus on increasing the security of the SSN and card, confirming the authenticity of the SSN and card through SSN verifications, and educating the public.”

You can read the entire testimony at

By: Joyce Trudeau of Premier Disability Services, LLC®