Whether you’ve been gainfully self-employed or working for someone else before becoming disabled, it’s imperative to apply for Social Security Disability benefits as soon as possible after you are diagnosed.

According to US News & World Report, if an injury of illness significantly impacts your ability to work, and the circumstances are expected to continue for a year or longer, it is recommended that you apply for assistance as soon as possible. In the United States, working U.S. citizens who pay into Social Security are entitled to draw from it for a qualifying disability.

Social Security Disability Benefits are Formulaic

The federal system is based on a formula which calculates the number of years worked prior to becoming disabled, the wages earned, and the taxes paid.

As indicated by Investopedia, you earn work credits for working in jobs covered by Social Security. Typically, what is needed to qualify are 40 work credits, half of which must have been earned in the decade before becoming disabled.

According to the Social Security Administration website, it is possible to earn up to four work credits per year, though the credits are based on total annual wages and vary from year to year. In 2019, a work credit is earned for every $1,360 earned, maxing at $5,440 for four credits.

If you have worked in jobs where you paid into the Social Security, it’s possible to set up an account on the agency’s website and get a reasonable estimate of disability benefits based upon your work history. The Investopedia report claims that, on average, a beneficiary receives a benefit check amounting to $1,234 a month with some variance below and above. The maximum tends to be around $2,861.00 monthly.

Life Changes Affect Benefits

Health crises that force people into early retirement become more of a concern as we age. Many individuals fall into the trap of taking Social Security retirement benefits early under these circumstances. As indicated by U.S. News & World Report, it is far better to apply for Social Security Disability benefits instead of settling for a lower early retirement benefit. The disability benefits convert to retired workers benefits at the appropriate age.

If your physical condition improves rather than degenerates, however, your eligibility for disability might be questioned. The Social Security Administration instituted a concept known as a trial work period in which benefits are not withheld or reduced regardless of the amount of wages earned.

During trial work periods, all work and wages must be reported to the government. A trial work period is considered complete once someone as worked at least nine months in a five-year span.  By 2019 standards, a trial work period is a month in which a recipient has earned at least $880.

If after trial worked periods have been completed and the person is capable of earning $1220 monthly, disability benefits usually are brought to a close. This figure increases if the recipient is legally blind to $2,040.00.

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This article is not legal advice. It is presented
for informational purposes only.