When you are collecting Social Security disability payments, money received from other sources can possibly have an impact on your payments. If you are aware of which payments can effect you, you and your attorney can take steps to minimize their impact. Here are four sources of additional income and whether or not they impact your Social Security disability payments.
When you receive income from work, there is a chance that you will not be viewed as having a qualifying disability anymore. If this happens, you could lose all of your benefits including, your Medicare.
If you do want to work, it is important that you understand the limits on how much you can earn from work each month. Legally, you can earn up to $1,090 a month starting in 2015. If you fear that your income from work could potentially jeopardize your benefits, talk to your attorney.
One action your attorney could take is deducting the amount of money that is spent to aid you in working each month. For instance, if you had to buy a new monitor to see the work on your computer screen because of your disability, you could deduct that from your monthly earnings which might put you under the limits.
You cannot receive payments from Social Security disability and Social Security. If you are eligible for both programs, you can only receive payments from one. You have the option of selecting the one that offers you the most monthly income.
State Disability Payments
Some states do offer monthly benefits on a temporary basis to people who are disabled. The benefits are designed to supplement the amount that is being received by unemployment. If your state does offer benefits, you can still receive federal disability benefits. They are considered to be on two different levels.
Private Disability Payments
If you are receiving disability benefits from a private source such as an insurance policy, you can continue to receive Social Security benefits. There are limitations though. For instance, if you are collecting workers' compensation payments, you are not entitled to receive more than 80 percent of average wages that you earned prior to your injury.
The Social Security Administration might take the step of reducing your disability payments. If this happens, your Social Security disability benefits can be increased again once your workers' compensation benefits have stopped.
If you are concerned about whether or not your benefits can be impacted by other monies that you receive, talk to your attorney. He or she is familiar with the Social Security disability system and can help you avoid a reduction in the benefits that you receive.
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