Contrary to what many people believe, the amount of money you receive in social security disability benefits isn’t determined by the severity of your disability, but it’s based on the average lifetime income prior to your disability.
The severity of your disability and current income isn’t taken into account. In 2019, people are receiving $1,234 on average from Social Security disability. Bear in mind that if you’re receiving disability payments from other government sources then your monthly payments may be reduced.
So how much should you be getting from social security disability payments? Let’s take a look:
Calculating Social Security Disability Payments
The amount of cash an individual receives from Social Security varies from person to person. The Social Security Administration (SSA) relies on a complicated weighted formula to determine the monthly payment each person receives.
The maximum amount of benefits an individual can receive in 2019 is $2,861.
All Social Security benefits, whether they are for disabilities or retirements, are based on the amount of Social Security taxes you pay aka “covered earnings.”
The average amount of money you pay as Social Security taxes over a specified number of years is referred to as Average Indexed Monthly Earnings (AIME).
Your AIME is entered into a formula to determine the Primary Insurance Amount (PIA); this is the number the SSA uses to set a monthly benefit amount. The formula involves using “bend points” that are adjusted every year.
A Social Security Disability lawyer can help estimate exactly how much you should be receiving as benefits.
To check the entire history of the covered earnings, take a look at your yearly Social Security Statement. You even have the option of manually entering your salary information instead of relying on the earning record or the future earnings estimated by Social Security.
The Effects of Other Disability Benefits
The benefits you receive from private insurance policies won’t affect the disability benefits you receive from Social Security. However, people who receive benefits such as temporary state disability or workers’ compensation benefits from the government could receive a reduced amount.
Considering that only a quarter of Social Security Disability claims are approved, it’s better to use the guidance of a professional who understands how the system works.
Social Security attorney, Lisa Douglas can help you navigate through the social security system to increase your chances that your claim is approved in an effort to get the benefits you deserve.
Contact the Law Offices of Lisa Douglas, Inc in Little Rock, Arkansas for more information on Social Security Disability claims.