Social Security Insurance Programs – Some Facts to Know
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Social Security disability benefits provide relief to individuals with serious impairments and are unable to work. This program into which you have been paying all your working life will provide financial security for your family and yourself, by replacing a portion of your income. Disability benefits offer basic but essential protection to Americans, and for 8 out of 10 beneficiaries it is their only main source of income.
The disability benefits average around $1165 per month, and the program’s eligibility criteria are among the strictest in the world. This insurance is available only for those Americans with the most significant disabilities and severe illnesses. Increase in women’s workforce participation, population growth and aging baby boomers have all contributed to the growth of the program. The growth has leveled off now and is expected to decline in the coming years with the baby boomer group retiring. The social security retirement fund and the disability insurance trust fund are routinely rebalanced to keep both trusts on strong footing. Now since the disability insurance trust fund is facing a financing deficit, it is expected that rebalancing the two will put the entire SS system back on firm footing until 2033.
Private vs. Federal Disability Insurance Plans
Considering the private sector, only one in three private sector employees has long term disability insurance provided by the employer. These plans are often less adequate than Social Security. In the case of low wage workers, only 7% of workers making less than $12 an hour have disability insurance provided by the employer. The coverage is mostly
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available to white-collar professionals whereas workers in industries such as hospitality, retail and construction are among those least likely to receive coverage provided by the employer. Moreover, private insurance plans often exclude workers in high risk occupations and those with pre-existing conditions. They also exclude certain types of impairments.
The Social Security Administration takes pride in their efforts to better serve and clearly communicate with the American public. They enjoy consistently high ratings in customer satisfaction and usability. The SSA website is easy to navigate and understand. They have also an FAQ section that answers most of the queries one may have.
Can You Change Your Social Security Number?
The Social Security Number issued to each individual is unique and a new number will be provided only under exceptional circumstances such as the following:
If your identity has been stolen and your SS number is being continuously abused
If sequential numbers assigned to members of your family are causing problems
If more than one person has been assigned the same number
If there are cultural or religious objections to certain digits or numbers in the original number.
If there is a situation such as threat to life such as domestic violence, abuse or harassment
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Changing one’s Social Security number comes with certain risks. Employment information and medical records may be associated with the former number. A new number may therefore bring unexpected problems. In domestic violence cases, applicants are usually advised to change their name first. Such victims can also choose to have access to their SS information blocked electronically. Applicants requesting change of number will have to go in person to a Social Security office and provide the necessary documentation stating valid reasons for the request. In all cases, applicants will need to submit documents showing proof of citizenship and immigration status, preferably the original documents.
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