SSD Claimants seeking benefits have been reduced as scrutiny from Social Security judges increases. The number of people seeking Social Security Disability Insurance benefits fell to 2.6 million in 2013 from 2.9 million in 2010.
The Social Security Administration paid out $1.06 billion was paid to parties representing SSDI clients in the first 11 months of 2014, which represents a reduction from the $1.32 billion in the first 11 months of 2010.
Binder & Binder a firm which heavily advertised has filed for bankruptcy through Chapter 11 and is seeking restructuring of its $40 million in debt.
Binder brought in $83.7 million in revenue in 2014.
The Social Security Disability Insurance program is expected to run out of money in late 2016. Any reallocation of funds for Social Security must be accompanied by policies that improve the financial footing of Social Security.
Republicans appear to aim to overhaul of Social Security retirement benefit and significantly reform disability programs.
About $145 billion is spent annually through SSDI (payroll tax- funded insurance for disabled workers). An additional $40 billion is spent on disability benefits through the Supplemental Security Income program (means-tested cash assistance).