If you have experienced a significant physical injury or a mental condition that prevents you from doing your job in New York, the government may provide Social Security Disability Insurance benefits. You should know the possible amount of money you can receive per month if you qualify. Here’s how the government calculates it.
Qualifications for SSDI
Not everyone qualifies for SSDI benefits. In fact, only 38% of first-time applicants get approved. The distinguishing factors that the government looks at include:
- A serious medical condition
- Previous work history of a job covered by Social Security
According to the Social Security Administration, a significant medical condition is one that prevents you from doing the same job you did before, stops you from doing any other job, and is expected to last over a year or lead to death. You will not receive benefits if you have a short-term or partial disability.
Calculating your Social Security Disability Insurance benefits
If you qualify for SSDI, the amount you’ll receive will depend on the time you spent working and your average Social Security savings during that time. In other words, the Social Security Administration doesn’t consider the severity of your injury when determining the amount to pay you.
What you need to know as a potential beneficiary is your average earnings over the years that were covered through the Social Security program. The Social Security Administration will take that figure and use it to determine your benefit amount.
Factors that may reduce your potential earnings
If you also apply for other public benefits like workers’ compensation or state benefits, the SSA will reduce your potential earnings. Getting benefits from private companies like life insurance or a private pension doesn’t affect your SSDI benefits in any way. If you reach your retirement age while receiving SSDI, the SSA will convert that benefit into retirement benefits, but you will still receive the same amount.
If you need additional help based on your financial needs, you may want to look into Supplemental Security Income. The federal government issues this benefit, and it doesn’t look at your work history when determining the amount to award you.