You are planning to apply for Social Security disability after an accident that has left you with a traumatic brain injury, and you are hoping that the Social Security Administration (SSA) will give you the good news that you are eligible for benefits. However, you may be wondering what this could mean for you.
How Much Will Be In Your Monthly Social Security Disability Checks?
Assuming that your application is approved, your monthly Social Security disability benefits will be calculated based on your average lifetime earnings before the date on which you became disabled. This is not a needs-based determination, but rather one based on your average indexed monthly earnings. The SSA applies a specific formula to your average indexed monthly earnings to come up with your primary insurance amount.
The specific amounts change from year to year, but for 2015 the SSA will determine your primary insurance amount as follows:
- 90% of the first $826 of your average indexed monthly earnings; plus
- 32% of your average indexed monthly earnings between $827 and $4,980; plus
- 15% of your average indexed monthly earnings over $4,980.
Of course, the maximum amounts of Social Security disability benefits still apply and your monthly check may not exceed the amount that is applicable for you. It is important to understand what you may be able to collect in monthly benefits before you begin the Social Security disability application process.
What Would These Benefits Mean to You?
Regardless of your income or assets, monthly Social Security disability benefits may be useful and reassuring to you. They may be an important part of your financial picture and future security. Your ability to receive monthly checks, as described above, begins with your initial application. Thus, we encourage you to watch our free videos and browse our free library for more information on how to complete a successful Social Security disability application.
by Carl M. Weisbrod Managing Partner of Morgan & Weisbrod, Board Certified in Social Security Disability Law