Social Security is the major source of income for most of the elderly, but it provides more than just retirement benefits.
Disabled workers and their dependents account for 14.5 percent of total benefits paid. One out of every 6 U.S. residents collected Social Security benefits in June 2020.
While both Social Security Disability Insurance (SSD or SSDI) and Supplemental Security Income (SSI) are popular benefits programs, do you know how both are funded? Where does the money come from that is paid out to beneficiaries?
Below, disability attorney Michael Hartup explains how both programs are funded and who is eligible to receive those benefits.
Continue reading “How is Social Security Disability Funded?”