Factors in Growth in Cost of Social Security Disability Insurance (SSDI) claims

Stephen Goss, chief actuary of the Social Security Administration (SSA), explained that most of the factors that account for the increase in the number of SSDI beneficiaries were predicted by SSA actuaries. Actuaries provide expert assessments of financial security systems,such as Social Security benefits.Goss, has testified many times before Congress in this role.Goss indicated that the increase in beneficiaries was due to a number of factors including:

  •  an increase in the population age 20-64;
  •  aging in the baby boomers;
  •  increase in the number of insured beneficiaries  and a number of other factors. The increase in the number of applications is leveling off.
  • Although the number of applications per year has increased since 2007,the allowance rate has not increased.

Goss indicated that costs were not out of control and that the factors driving the increase in the number of beneficiaries was forseen. This explanation is the same that he has given to Congress a number of times.http://www.ssa.gov/legislation/testimony_031413a.html. Goss indicated that to balance trust fund  there were a number of actions that the Congress could take. Call Omaha Social Security attorney , Timothy Cuddigan, at (402) 933 5400 if you have questions about this important topic or for free evaluation of your disability claim.

Timothy J. Cuddigan
Omaha Social Security and Veterans Disability Lawyer With Over 40 Years Experience
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