When most people discuss Social Security, they are talking about the program’s retirement benefits without knowing much about Social Security Disability Insurance or SSDI benefits. However, the Social Security program offers a multitude of additional advantages.
In actuality, the so-called Social Security taxes deducted from your paycheck each pay period are referred to as Old Age, Survivors, and Disability Insurance (OASDI) taxes.
SSDI Benefits
In addition to retirement or old age benefits, you also pay taxes to fund payments for survivors and disability insurance, as the full term indicates.
Social Security disability insurance (SSDI) is comparable to private and employer-sponsored disability programs in certain respects. In other words, if your disability prevents you from working, you will receive a monthly income benefit from the program.
In the same manner, as Social Security retirement benefits, the SSDI Trust Fund is funded by the taxes of current workers.
According to the Social Security Act, disabled individual who is qualified for SSDI must have a serious medical condition that keeps them from working for at least a year or is projected to result in their death. A person must be unable to perform any type of labor, not only their previous occupation.
Read more: Social Security update: Who’s getting an early January 2023 direct payments worth $914?
How To Qualify?
In general, you are only eligible for SSDI if you meet the same work conditions as those for retirement benefits.
Despite the fact that allowances are offered to younger workers, in order to qualify, you must have earned at least 40 work credits, 20 of which must have been earned in the 10 years prior to being incapacitated. In 2022, one work credit is awarded for every $1,510 earned, up to a maximum of four credits per year.
Don’t panic if you haven’t yet received your December Social Security Disability Insurance payment. It’s on its way.
The Social Security Administration sent the fourth of four SSDI payments on Wednesday. When you receive your money depends on your date of birth and the year you began collecting SSDI benefits.
Here is when you should have received your payout, based on your date of birth:
- Dec. 14: SSDI payment for those with birthdays falling between the 1st and 10th of any given month.
- Dec. 21: SSDI payment for those with birthdays falling between the 11th and 20th of any given month.
- Dec. 28: SSDI payment for those with birthdays falling between the 21st and 31st of any given month.
Read more: Social Security benefit 2023: How to qualify for maximum payment?
