While the government tries to figure out how to pay for many programs at the start of the new year, Social Security is not one of them. That’s because SS is fully funded for the near future. The purse strings for this department are not tied into the yearly budget like so many others are. The funds are kept separate and funded by the taxpayers themselves.
“Every year there are a lot of questions about Social Security and Disability and will the funds run out,” said Maria, a disability attorney in Melbourne, Florida. “The straight answer is No; they will not run out and are expected to be stable until at least the 2030’s.”
Attorneys like Maria fight on behalf of people who are dependent on SSDI to live. Unemployment benefits are there for anyone who has worked and has contributed to the system. These benefits also extend to those people who are under 18 years old.
Being disabled and unable to work is the main qualifying factor in getting approved for these payments. The burden of proof is on the applicant, however. The application needs to include clear and concise evidence as to when the condition started as well as all of the medical treatments and medical office visits.
It’s good to think about this application as a legal case. They will review its merit and make a decision accordingly. That’s why it is a good idea to hire an attorney to handle this process. In fact, only about 25% of initial applications are approved. And only about 25% of denial appeals are improved. Both of these numbers double when an attorney is representing the applicant.
Attorneys in this field only get paid if the application is approved. They then receive a small cut of the payments until the balance is paid off. They are limited to around $9,000 for the life of any case.
If your application is denied this usually means something was incomplete or improperly filed. In fact, this is the number one reason applications are denied. Upon a denial, your attorney will edit and/or add information on your application and file an appeal. The entire process from filing to denial to appeal to final decision can take as long as 2 years. But an attorney will shave many months off that.
People who file the same exact application on appeal as they did initially shouldn’t be shocked if they are denied again. The appeals process allows you to add new and pertinent information to the case. An initial denial should be looked at as a learning lesson and as a second chance. It’s not automatically a bad thing.
So, will Social Security run out of money in 2026? Absolutely not. The program is funded and safe until the mid-2030’s. Between now and then they have time to figure out how to fund the program beyond the 2030’s. Some changes will need to be made and many in the industry are expecting a downgrade in the amounts people receive.
