Social security benefits in 2014

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Social Security Benefits in 2014 In 2014, Social Security benefits will rise only 1.5%, and this is one of the smallest increases so far in the program’s annual COLA (cost of living adjustment).

Social security benefits are available for older Americans who have retired, for disabled people, survivors of workers who have died and dependents of beneficiaries. In the United States, approximately 165 million people work and pay Social Security taxes while around 58 million people receive monthly Social Security benefits.

Small Increase Compared to 2013 In the year 2014, Social Security benefits will rise only 1.5%, and this is one of the smallest increases so far in the program’s annual COLA (cost of living adjustment).

Compared to the 1.7% increase in 2013, this is quite less. In 2010 and 2011 there was no COLA increase in the wake of the recession and the fall in prices. In 2012 though, there was a 3.6% adjustment that was quite significant. The small increase now is attributed to the fact that inflation has remained low. With this small increase of 1.5%, beneficiaries will receive an increase of $19 that will lift the check to an average of $1294. http://www.mosmedicalrecordreview.com/ 1­800­670­2809

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The Longer the Wait, the More Are the Benefits Social security benefits are paid on the basis of your lifetime earnings; the more you earn, the more will be your benefit. A person enrolling at the current FRA (Full Retirement Age) of 66 would get 100% of his/her full benefit. However, if you choose to retire at age 62, you will receive only 75% of your full benefit. if you can wait to claim benefits when you are 70, your monthly payout would be 132%.

Consider a person whose average annual earnings SS benefits determinant was $75,000. His/her annual benefit at the age of 62 would be $15888. This figure would increase to $21181 if they retire at the full retirement age of 66. If they choose to retire at 70, this benefit amount would further rise to $28821. A person waiting for 8 years to claim benefits can enjoy 81% increase in his/her annual SS payments. However, it is important that a person retires at the right age because the one drawback in waiting to claim SS benefits is that if they die before filing for Social Security benefits, no one including the deceased’s spouse or dependents stands to benefit. SSI claims cannot typically be started after a person dies. However, if a person contacted Social Security and enquired about filing for disability benefits before his/her death, the beneficiary can file an application for the same.

The Important Role of Disability Attorneys http://www.mosmedicalrecordreview.com/ 1­800­670­2809

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People planning to retire and claim Social Security benefits have to consider many aspects. They need all the relevant information that will help them make the best decision.

Social Security law is rather complex, and usually claimants prefer to consult a disability lawyer to understand the intricacies and take the decision that is best in their case.

Disabled individuals can file for Social Security disability benefits provided they meet the required criteria. When a Social Security claim has been denied, they request the services of a disability attorney who can provide valuable support in getting their claim approved. Statistics show that a claimant represented by an attorney is more likely to be approved by the SS. Disability attorneys will present the case in a way that is most favourable to their clients.

• They would provide advice on the claimant’s disability onset date; and argue that the particular impairment meets the requirements of one of the disabilities listed in the Social Security’s “blue book.”

• The lawyer will collect and submit all relevant medical evidence, get an opinion from the treating physician, draft a detailed brief to the ALJ (Administrative Law Judge), and prepare the client for the questions the judge may ask during the hearing, during the first and second levels of appeal. He/she would also obtain helpful testimony from the client during the hearing. In addition, helpful information to substantiate that the client is unable to work would be elicited from the medical expert during cross examination. http://www.mosmedicalrecordreview.com/ 1­800­670­2809

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• When appealing to the Appeals Council and federal court, the disability lawyer will effectively argue and demonstrate that Social Security has wrongly denied your case.

The Medical Record Review Process – Its Significance When filing for social security disability benefits, the claimant’s medical records are the most important proof to establish his/her disability. Only a detailed analysis and review of these valuable documents will give the lawyer an idea about the actual disability. Medical records can be voluminous and reviewing them is not an easy job, especially for a legal person untrained in medical matters.

This is where a reliable medical record review company can be of valuable support to a social security disability attorney. The medical review company has medical and legal professionals on their review team that can prepare a detailed medical chronology listing all the medical encounters. They will also provide concise medical case summaries that provide all details regarding the specific disability of the claimant, medical opinions and other relevant details. The significant aspect about an intelligent medical review process is that the summaries are not mechanically prepared. They provide valuable insight to the lawyer regarding the case which will assist in case preparation and during the appeals process.

The service of a medical review company is thus invaluable to social security disability attorneys and their http://www.mosmedicalrecordreview.com/ 1­800­670­2809

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firms, helping them win cases and bringing relief to their clients.

Posted by MOS Medical Record Review Company http://www.mosmedicalrecordreview.com/

http://www.mosmedicalrecordreview.com/ 1­800­670­2809