“In 2018 Millions of working Americans are facing a growing crisis: a lack of adequate disability insurance coverage. Today, the absence of emergency savings, rising medical costs, and an overall trend of fewer employers offering benefits to workers has created a critical blind spot for many American workers and their families. Without some kind of income protection, more Americans are experiencing severe financial difficulty if they need to miss work due to illness, injury, or pregnancy. Here are the critical numbers.”
The Council for Disability Awareness
Workers’ Compensation and Social Security do not cover most financial challenges.
- Workers’ Compensation only covers time away from work if the disabling illness or injury was directly work-related. In 2016, only one percent of American workers missed work because of an occupational illness or injury.
- From 2006 to 2015, only 34 percent of Social Security Disability Insurance (SSDI) claimants had their applications approved: 23 percent at the initial application stage and the remainder after a reconsideration or appeals process. 12
- It generally takes three to five months from time of application for SSDI benefits to get an initial decision.13 The backlog of appeals cases was more than one million in 2017, with associated processing time averaging more than 18 months.14
- The average SSDI benefit as of January 2018 was $1,197 a month.15 That equates to $14,364 annually — barely above the poverty guideline of $12,140 for a one-person household, and below the guideline of $16,640 for a two-person household.16
To read the entire publication from the The Council for Disability Awareness see this PDF -> The-CDA-RealityCheckup-Media-Kit