If you have had the misfortune to be injured at work, you may already realize that you are eligible for workers' compensation, but what you may not consider is whether or not you can also collect Social Security Disability. Under certain circumstances, you can, in fact, collect both concurrently. Read on for more information and some important pointers on how these two program offer help to workers who are injured.
Social Security Disability
This federally-run program requires that you have worked long enough to have paid enough into the system to qualify for benefits. Your injury doesn't need to necessarily be job-related, but you must show that your condition is severe enough that you are unable to work. Your condition must be long-term -- expected to last for another year, at least.
Workers' Compensation
Your employer pays for your workers' comp insurance, and you are eligible from your very first minute of work, so there's no need to build up any time on the job for the benefit to apply. Workers' compensation is a state-run program and the laws governing it vary from state to state.
The Benefit Amount
If you are approved for Social Security Disability and are also receiving workers' comp, your benefit amount cannot exceed 80% of your previous pay from your job. You will receive the full amount of the workers' comp benefit, and the SSDI benefit amount will be reduced, referred to as an "offset," to bring your monthly benefit amount in line with the 80% figure. Your SSDI payment will continue to be reduced by the workers' comp payment in that manner until your retirement age is reached, when your regular Social Security benefit will begin.
If your workers' compensation is paid in a lump sum instead of a monthly payment, it is vital that your workers' comp attorney pay special attention to the wording of the settlement and to include language about the amortization of the payments, meaning that the amount paid is considered to be spread out over your lifetime. In addition, the medical and legal expense portion of the workers' comp settlement should be a separate payout, since the Social Security Administration does not count that toward the benefit offset amount.
As you might imagine, collecting workers' compensation and Social Security Disability at the same time is a highly complicated matter, and the need for competent legal help is vitally important. Contact an attorney who can assist you with both of these issues and can get you the financial help that you need. Look into additional reading you can do to further educate yourself on the matter.
