Clueless About Disability

Baby boomers are in the dark about public disability income programs such as Social Security disability insurance and worker's compensation, according to a recent survey by America's Health Insurance Plans of Washington.

Nearly half of the 827 respondents said they believed incorrectly that a working adult would qualify for SSDI benefits if he or she were unable to work at their current job but could still work at another job that paid less.

More than a third said they thought that a worker would qualify for SSDI benefits if he or she could work no more than 20 hours a week, and one in four said they didn't know what the qualifications were.

In reality, workers are eligible for SSDI benefits only if they are unable to do any work for which they would earn $1,000 or more a month.

Just one in five correctly estimated the average monthly SSDI benefit for a disabled worker to be about $1,000 a month. Eighteen percent overestimated the benefit, and 43% said they didn't know.

The survey also assessed the boomers' knowledge of the length of time it takes to receive SSDI benefits.

Thirty-four percent estimated the length of time to be shorter than it generally was, and 35% said they didn't know. The average length of time it takes for a person who files a SSDI claim to be accepted or denied is more than 17 months.

"Baby boomers know very little about the public disability safety net available for workers who suffer a disability," Humphrey Taylor, chairman of the Harris Poll, said in a statement.

Thirty-six percent didn't know how much of their income workers' compensation benefits would replace, and one in five overestimated benefits. Just 24% knew that workers' compensation replaces two-thirds of a worker's pre-disability income.

Original article located on www.investmentnews.com

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New Data Shows Continued Growth of Long-Term Disability Claims and Decline in Social Security Disability Insurance Applications Approval Rate

Council for Disability Awareness Releases its 2007 Claims Review from Leading Insurance Companies and Social Security Administration Data

PORTLAND, Maine, May 13 /PRNewswire-USNewswire/ -- Data from the annual Long-Term Disability Claims Review released today by the Council for Disability Awareness (CDA) reveals the continued growth of serious disabilities among the U.S. working population. Over the last ten years, the number of U.S. workers with long-term disabilities has grown four times the growth of workers in the U.S. workforce. The Review also found that a growing number of female and younger workers are experiencing serious disabilities that are impacting their ability to work. Most disabilities continue to be caused by off-the-job accidents and illnesses.

The 2007 CDA Long-Term Disability Claims Review, the third annual review of long-term disability claim trends among the U.S. working population, includes primary data from the annual CDA member company long-term disability claims survey and analyzes selected worker disability data from the SSDI program.

According to this year's review, more than 560,000 individuals received long-term disability insurance payments from CDA member companies in 2007, resulting in claim payments in excess of $7.7 billion - a 7 percent increase in payments made in 2006.

The review also shows that in last year 7.1 million disabled workers received payments from the Social Security Disability Insurance program totaling $91.3 billion - a 4.3 percent increase over payments made in 2006 and more than double the SSDI payments to disabled workers just 10 years ago.

The number of workers applying for SSDI disability payments increased to 2.2 million in 2007, 2.6% more that in 2006, while the number of disabled workers approved for payments declined to 37.6 percent, the lowest approval rate in the history of the program. Despite the increase in monthly SSDI payments, now averaging $1004 per worker, payments are less reliable and have not kept pace with the growing financial needs of disabled workers, putting the financial security of workers and their dependents at greater risk.

"The CDA Claim Review shows that it is critical and urgent for American workers and their families to become aware of the growing instances of disability and to prepare for the financial consequences," explained Robert Taylor, president of CDA. "Our data also shows that accountability for personal financial security continues to shift away from trusted sources like social programs and employers to the individual."

Working women and younger employees are more vulnerable to serious accidents and illnesses that can impact their ability to earn a living. The growth in the rate of serious disability for working women is twice the growth rate of working men and younger workers, in their 20s, 30s and 40s are experiencing serious disabilities.

According to the review, the leading cause of long-term disability insurance claims continues to be musculoskeletal/connective tissue disorders - accounting for almost one-quarter of all new and existing claims. Cancer and cardiovascular/circulatory problems remained the second and third most common causes of new disability claims. Accidents and injuries remain the fastest growing causes of new as well as existing claims.

"It's important that Americans recognize the growing threat that disability can pose to their financial security," explains Taylor. "With this annual survey, CDA continues to expand the public dialogue that will raise the necessary awareness level on this critical issue."

About the 2007 CDA Long-Term Disability Claims Review

CDA conducts an annual review of long-term disability claims among the U.S. working population to determine continuing or emerging trends. The 2007 Long-Term Disability Claims Review includes 2007 long-term disability insurance claims data supplied by CDA member companies and an analysis of the Social Security Disability Insurance (SSDI) program 2007 Annual Statistical Supplement.

About the Council for Disability Awareness

The Council for Disability Awareness (CDA) is a non-profit group dedicated to helping the American workforce become aware of the growing likelihood of disability and its financial consequences. The CDA engages in communications, research and educational activities that provide information and helpful resources to wage earners, their families, the media, employers and others who are concerned about disability and the impact it can have on wage earners and their families. For more information about the CDA, visit: www.disabilitycanhappen.org.

Original posted located on prnewswire.com

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Baby Boomers Still Misunderstand Disability Income

Original Link: Baby Boomers Still Misunderstand Disability Income (from: ohsonline.com)

Posted: May 7, 2008

According to a new survey conducted by Harris Interactive on behalf of America's Health Insurance Plans, most baby boomers overestimate the breadth and depth of the public safety net available for workers who suffer a disability, believing public programs provide disability benefits to more people than they actually do and overestimating the amount of benefits available.

The survey assessed boomers' knowledge about public disability income programs, such as Social Security Disability Insurance and Worker's Compensation. Nearly half of boomers surveyed believe incorrectly that a working adult would qualify for SSDI benefits if he or she were unable to work at their current job, but could still work at another job that pays less money. More than a third of baby boomers believe a worker is qualified if he or she can work no more than twenty hours a week, and one in four say they do not know what the qualifications are. In reality, workers are eligible for SSDI benefits only if they are unable to do any work for which they would earn $1,000 or more per month.

"Baby boomers believe they have more disability income protection than they actually do, giving them a false sense of security against the financial risks of disability," AHIP President and CEO Karen Ignagni. Humphrey Taylor, chairman of the Harris Poll, seconded that thought, saying, "Baby boomers know very little about the public disability safety net available for workers who suffer a disability."

Only one in five boomers correctly estimated the average monthly SSDI benefit for a disabled worker to be about $1,000 a month. Eighteen percent overestimated the benefit and a significant number of those surveyed (43 percent) said they did not know how much the average monthly SSDI benefit was. While a majority of boomers (60 percent) accurately stated that job-related illnesses and injuries are qualifications for worker's compensation, many incorrectly believe this coverage is also available to individuals who suffer a disability in other situations. Many of those surveyed said they believe people can qualify for worker's comp benefits if they suffer a disability that prevents them from working at their previous job (26 percent), forces them to work at a job that pays less than their current job (10 percent), or if they can only work part-time (9 percent).

Thirty-six percent of boomers did not know how much of their current income worker's comp benefits would replace, and one in five overestimated benefits. Only 24 percent of boomers accurately stated that worker's compensation replaces two-thirds of a worker's pre-disability income.

The survey also assessed baby boomers knowledge of the length of time it takes to receive SSDI benefits. Thirty-four percent estimated that the length of time to receive benefits was shorter than it generally is, and more than a third (35 percent) said they didn't know how long the process takes. The average length of time it takes for a person who files a SSDI claim to be accepted or denied, including any appeals, is approximately 500 days, or more than 17 months. A memo outlining the survey findings is available at www.ahip.org/content/default.aspx?docid=23188, and the survey questionnaire can be found at www.ahip.org/content/default.aspx?docid=23187.

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1-800-507-4774

NationalDisabilityLawyer.com is a website with SSDI and SSI Disability information. Learn more about disability cases, how to apply for disability and how to appeal a denied Social Security Disability case.