Once you have been approved for Social Security disability (SSD) benefits, understanding how the payment system works is important. If you do not understand, you may receive less money that you are really entitled to, may miss out on back pay, or have other unanswered questions. Here are four things that you need to know about SSD payments. If you have other questions, contact an experienced Social Security disability attorney.
- How Your Payments Are Calculated
The amount of Social Security benefits that you will receive is based on your average lifetime earnings. The more you made throughout your working years, the more you will be entitled to if you are deemed disabled.
- When Your Payments Begin
Surely, if you have been approved for Social Security disability benefits, you have questions about when your payments will begin and how much you will be entitled to. An article in CNN Money explains that disability payments begin only after you have been disabled for five months, and that they continue until your condition improves enough that you are able to return to work and earn a gainful income. In other words, you will be eligible to receive payment on the sixth full month of disability.
- You May Be Entitled to Back Payments
Many people do not realize that they are probably entitled to back pay. The reason that some people may qualify for back pay is that disability claims can take months to process, which may mean a person is entitled to compensation for any months that they had their disability but were not receiving a disability award. You may be entitled to benefits dating back to the date that you first filed your application, minus the five-month waiting period (discussed above). Sometimes, people are eligible to receive years’ worth of back pay.
- What a COLA Is
For those who receive disability benefits, the good news is that your disability benefits may increase every year based on an annual cost of living adjustment, or COLA. The COLA is designed to keep up with the costs of inflation. The COLA is based on a formula designed by the Social Security Administration. As the cost of living increases in the U.S., so will your benefits.
Work With an Experienced Social Security Disability Attorney
Can I have a lawyer represent me in applying for Social Security Disability or Supplemental Security Income? To learn more about How You Qualify for Social Security Benefits, refer to the website of the Social Security Administration. To understand the application process and to learn more about your SSD payments, how to apply, or to dispute a denied claim, contact an experienced SSD lawyer.
SSD claims are complicated – we want to help clarify things. Contact the attorneys at The Bob Richardson Law Firm now to schedule a free case consultation. We will work hard to get you the benefits that you deserve!