Our Orlando Social Security lawyers are here to discuss the numbers behind SSDI benefits and more.
Around 2 million people apply for Social Security Disability Insurance (SSDI) benefits each year, and in 2022, 70.6 million people received benefits from programs administered by the Social Security Administration (SSA).
Our Orlando Social Security lawyers have been researching some of the most influential statistics surrounding SSDI benefits and beneficiaries, and we have compiled a guide for you.
Quick Facts At A Glance
- 5.6 million people were newly awarded Social Security benefits in 2022.
- 55% of adult Social Security beneficiaries in 2022 were women.
- 55.6 years old was the average age of disabled-worker beneficiaries in 2022.
- 85% of Supplemental Security Income (SSI) recipients received payments because of disability or blindness in 2022.
The Application Process By The Numbers
In November 2023, applicants waited an average of seven months and fifteen days for a decision regarding their SSDI benefits application.
- 38% of initial applications were approved.
- Around 50% of denied claims were sent in for reconsideration, and of those claims, 15% were approved.
- 77% of applicants who were denied at the reconsideration stage appealed the decision, moving to a hearing with an administrative law judge (ALJ).
- Nationally, 51% of applicants heard by an ALJ were approved; however, the process can take months, with an average wait time of 372 days (October 2023).
Breakdown Of Beneficiary Payments
SSDI benefit amounts are determined by assessing an individual’s average lifetime earnings, considering the highest-earning years adjusted for inflation to calculate the Average Indexed Monthly Earnings (AIME). Actual monthly benefits may be adjusted based on factors like the age of claim and other income sources. SSDI aims to replace a portion of pre-disability income, offering financial support while beneficiaries are unable to work.
Here are the SSDI benefit amounts per each beneficiary category as of November 2023:
Disabled-Workers By Selected Diagnostic Group
In 2022, benefits were awarded to 509,272 disabled workers. Among those awardees, the most common impairment was diseases of the musculoskeletal system and connective tissue (34.4 percent), followed by neoplasms (13.6 percent), mental disorders (12.0 percent), diseases of the circulatory system (11.0 percent), and diseases of the nervous system and sense organs (9.5 percent). The remaining 19.5 percent of awardees had other impairments.
Basis for Eligibility and Age of Recipients
Approximately 15% of Supplemental Security Income (SSI) recipients are eligible based on age, while the majority qualify due to a disability. Among SSI recipients, 31% are aged 65 or older.
Economic Impact
Social Security benefits play a crucial role in the economic landscape, contributing significantly to the national economy. These benefits provide financial support to retired workers, disabled individuals, and their dependents, helping to sustain a stable and secure livelihood.
Beyond individual support, Social Security acts as a vital tool in poverty reduction, particularly among elderly and disabled populations. By providing a reliable income source, these benefits help to lift many individuals and families out of poverty, ensuring a basic standard of living during times of retirement or disability. This dual impact on both personal well-being and overall economic stability highlights the essential role that Social Security plays in social and economic policies.
Challenges and Changes
Recent and upcoming changes in Social Security policies can significantly influence SSDI benefits. The SSA regularly reviews and adjusts policies to align with societal needs and economic conditions, so consulting with our Orlando Social Security lawyers can provide insights into these changes and their potential impact on your monthly payments. Some of these changes may include alterations to eligibility criteria, benefit amounts, and procedural aspects of the SSDI program. Additionally, economic factors, including recessions or economic downturns, may influence the financial stability of the Social Security system, prompting policymakers to consider adjustments.
How Our Orlando Social Security Lawyers Can Help
Our dedicated team of Orlando Social Security lawyers is here to guide you through the complexities of SSDI applications and keep you informed about any changes to the program. Navigating the Social Security landscape can be challenging, but with our knowledge, we ensure you understand the process and stay updated on evolving policies. Contact us today to learn more.