There are two benefits that are associated with social security disability. The first benefit has to do with healthcare. If found disabled, you may be eligible for either Medicare or Medicaid health insurance. Medicaid is a state-funded healthcare system for low-income individuals. While the Medicaid program is run by both the Federal and State governments, the states have broad leeway in managing this program. In terms of disability, you will only be approved for Medicaid if you meet the financial requirements for Medicaid. The other health insurance program is Medicare. This program is administered by the federal government. An individual qualifies for Medicare if they are age 65 or older, or if they have been found disabled by the social security administration. If you are found disabled, Medicare coverage will begin two years from your payment effective date. Meaning, the date you are eligible to be receiving disability benefits.
In addition to health benefits, if you are found disabled you will receive a monetary monthly benefit. This may sound similar to the worker’s compensation program. However, they are vastly different. The monthly benefit that you will receive from the Social Security Administration is based upon the taxes you have paid into the system over the years. The more you have paid in taxes the higher your monthly benefit will be. In terms of Workers Compensation, that monthly benefit is not calculated based upon your taxes, it simply looks at your lost wages. The maximum you may be eligible for in terms of social security disability is approximately $2,600 per month. The average monthly amount is $1,100. Social Security uses your average earnings or the average indexed monthly earnings (AIME) when calculating your monthly benefit. You may remember receiving a statement in the mail from social security with the amount you would be eligible for if you became disabled now. If you can find that paper that would be a good estimate for you of what to expect. If you would like a more exact number, you can visit the social security website here to input some brief information.