Why You Should Take Advantage of SSDI Benefits
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Social Security Disability Insurance, or SSDI, is a federal insurance program funded by payroll taxes and administered by the Social Security Administration. This program is designed to provide people who cannot work due to a severe disability with income until their condition improves or indefinitely if the condition does not improve.
Many people are unaware of the benefits of receiving SSDI. These benefits include regular monthly income, Medicare eligibility including access to medical and prescription drug coverage, possible COBRA extension, protected retirement benefits, dependent benefits and return-to-work incentives. With these SSDI benefits, those who are unable to work can rest a little easier knowing that they’ll be receiving disability insurance to help cover their living and medical expenses. If you have a severe disability and are unable to work, read on to find out more about Social Security Disability Insurance (SSDI) and the many advantages that can come as a result of qualifying for the program.
Monthly Income
One of the biggest advantages of receiving Social Security Disability Insurance (SSDI) benefits is that those who are qualified receive a regular monthly income that has annual cost-of-living increases. Additionally, a portion of these benefits may be tax-free.
Medical and Prescription Drug Coverage
There are many medical benefits that come with qualifying for Social Security Disability Insurance (SSDI). No matter how old you are, 24 months after you begin receiving SSDI cash benefits, you become eligible for Medicare, which includes both Medicare Parts A and B.
Medicare Part A is hospital insurance, which covers hospitalization, home health care, limited skilled nursing facility care and hospice care. Medicare Part B is medical insurance, which includes benefits such as doctors’ services, outpatient services, clinical laboratory services and more.
Additionally, a variety of Medicare Advantage Plans are available. These plans may offer additional benefits and prescription drug coverage as well. Once you’re entitled to Medicare, you also are eligible for Medicare Part D, or prescription drug coverage.
If you qualify for Social Security Disability Insurance (SSDI), the length of your COBRA benefits also may be extended. COBRA allows you and your dependents to keep your workplace’s group health plan for 18 months after your employment ends, but SSDI recipients may receive coverage for an additional 11 months.
Long-Term Disability (LTD) Coverage
If you already have private long-term disability insurance, your insurance provider often will require you to obtain SSDI. This will help protect your ability to receive long-term disability income.
Additional Advantages of SSDI
With SSDI, you also get protected retirement benefits, dependent benefits and return-to-work incentives. As for protected retirement benefits - when you reach your full retirement age, which is between 65 and 67, SSDI coverage ends and those receiving it transition to receiving Social Security retirement benefits. Social Security disability entitlement “freezes” Social Security earnings records while you receive SSDI. This means that the years in which you collect disability benefits are not counted when calculating future Social Security benefits. In essence, your Social Security retirement benefits may be higher than if your earnings were averaged over a greater number of years.
When it comes to dependent benefits, those eligible for SSDI benefits may be able to extend coverage to their children. If you’re receiving SSDI benefits and you have a dependent under age 18, he or she may be able to receive benefits. Additionally, for those who may be able to go back to work, Social Security provides an incentive to return to work. By offering you opportunities to return to work while still receiving disability benefits, you can receive the money you need while easing back into the working world and getting on your feet again.
There are many advantages to qualifying for Social Security Disability Insurance. If you have a disability that prevents you from working, speak with a professional SSDI benefits representative about receiving a free evaluation to determine if you qualify for SSDI benefits.
Jim Allsup writes for Allsup, a SSDI benefits expert. Mr. Allsup and his experienced team of professionals help people with disabilities get the Social Security Disability Insurance benefits they need and deserve.
