Katrina Casualties Could Speed Bankruptcy Of Social Security Benefits To 2008
Columbia, MD (ContentDesk)
October 20, 2005 -- At the rate of $3 million per month for every 498 individuals, as is being paid to survivors of 9/11, the Administration is on the hook for $4.4 billion per month - $52.8 billion per year- in disability benefits.The Administration now sends $100 billion a year to 10 million people.
Add to this the 15 million (20%)
out of 76 million baby boomers who will become disabled over the next 10 years, the inescapable conclusion is that the Administration will run out of enough workers to pay for the disabled and retiring 5 years sooner than the 2014 year previously forecast by the Government Accounting Office (GAO).
In a statement released in 2003, the Social Security Administration said that as of August of that year, monthly benefits are being paid to 498 individuals disabled by the terrorist attacks of 9/11, and 81 of their dependent spouses or children for a total of $3 million per month.
The Administration received 5,629 individual benefit claims from 2,281 families.
Benefits are being paid to 2,375 surviving children and surviving spouses.
One-time payments were made to 1,800 members of victims families.
As of August 2003, nearly $67 million in benefits had been paid to people affected by the September 11th tragedies. If past studies of disaster
survivors are valid, as many as seventy-four percent of the 1.3 million Katrina survivors could develop long-term depression and posttraumatic stress disorder (PTSD), making them eligible for Social Security disability benefits.Two studies of the long-term psychological effects of survivors have been published;
one in the "Journal of Traumatic Stress"
(August 2002), the other in "The Journal of Nervous and Mental Disease"
(March 2003).
The first study of 1,000 survivors found that the rates of PTSD and depression were 43% and 31% respectively.
The second ,with a group of 500 individuals, found rates of 39% and 18%, respectively.
Both studies were based on the devastating earthquakes which hit Turkey in 1999.
The first quake left 17,000 people dead and tens of thousands homeless. The second killed hundreds more.
(BBC News, 11/24/99)Both studies found that the most severe occurrences of depression and PTSD were those who were female, older age, participation in rescue work, death of a family member, past psychiatric illness, and lower education.If the 18% of victims paid for disability as a result of 9/11 holds true to the Katrina disaster, then 234,000 survivors will receive Social Security disability benefits.
If the higher percentages are used, then $5.8 million per month $69.6 billion per year in disability benefits will be paid to the survivors.
Using the lower numbers, this would increase SSAs payout by 50% in one year.
But, if the lower percentages of victims revealed in the 2nd study of Turkey earthquake survivors is used, then 57% -741,000 - of the Katrina victims would qualify for Social Security disability benefits on the basis of depression and PTSD.
If the higher percentages uncovered in the first Turkey earthquake are used, then as many as 962,000 could qualify for the long-term effects of PTSD and depression.Dr. Peter Hodgkinson from the Centre For Crisis Psychology in North Yorkshire says, Death in war can be given some meaning if there is a feeling that the victim was fighting for a cause.
But, with a natural disaster on this scale, there is a sense of hopelessness, of being totally overwhelmed by the force of nature.
(BBC News, August 23, 1999)Lorraine Sherr, a consultant clinical psychologist at the Royal Free Hospital of London, said after the Turkey earthquakes, The most difficult things to cope with after a tragedy are the feelings generated because you have survived while others have not.
Also, there has to be a realization that life will never be the same again. About Frederick A. Johnson:Frederick Johnson has been helping the disabled get Social Security disability benefits since 1989.
He is author of,
How To Apply For & Win Social Security Disability Benefits
published with yearly updates since 1994.
(ISBN:
1-888752-28-9)
Contact:Frederick Johnson March 3rd Books/Disability Income Associates1-800-536-0454
???Copyright 2005, Frederick A. Johnson.
All rights reserved.
5430 Lynx Lane, PMB 194, Columbia, MD
21044.
Travel Insured International? Reaffirms Coverage for Airlines
East Hartford, CT (ContentDesk) September 4, 2005 -- Leading travel protection company, Travel Insured International, confirmed Bankruptcy and Default coverage is available for travel on United, U.S. Air, and their subsidiaries, currently operating under the protection of Bankruptcy filing. Many of Travel Insured's programs, including Worldwide Trip Protector, Group and Student Group, provide for Trip Cancellation due to the Bankruptcy or Default of an airline. If alternate transportation is available, benefits are limited to the change fee charged to allow transfer to another airline in order to reach the intended destination, and are secondary to all other payments. With this benefit, passengers planning to travel United and US Airways will continue to be protected.
"Our agents and travelers alike are concerned about the effect of bankruptcy proceedings as it may effect their travel plans." states Jon Gehris, Executive Vice President and COO. Jon continues, "Current bankruptcy...
Travel Insured International? Reaffirms Coverage for Airlines
Bankruptcy > Travel Insured International? Reaffirms Coverage for Airlines
Legal Helpers Publishes Latest Article in Lecture Series About Credit Reporting Errors and How to Correct Them
Chicago, IL (ContentDesk) July 23, 2006 -- Legal Helpers released the second article in a series on credit reporting errors, the issues they create and what consumers can do about them. The article, which can be found at http://www.legalhelpers.com/credit-repair/credit-and-the-law.html, discusses the history of credit bureaus, how they evolved and explores the laws established by the federal government to help protect consumers from incorrect credit reports. The series is intended to create awareness of a growing issue that concerns every consumer regardless of the current state of their credit. A single error on a credit report could result in an increased point or two of additional interest which could result in hundreds if not thousands of dollars that the consumer should not have had to pay. Legal Helpers will continue the series each week.
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Legal Helpers Publishes Latest Article in Lecture Series About Credit Reporting Errors and How to Correct Them
Bankruptcy > Legal Helpers Publishes Latest Article in Lecture Series About Credit Reporting Errors and How to Correct Them
Katrina Casualties Could Speed Bankruptcy Of Social Security Benefits To 2008
Columbia, MD (ContentDesk)
October 20, 2005 -- At the rate of $3 million per month for every 498 individuals, as is being paid to survivors of 9/11, the Administration is on the hook for $4.4 billion per month - $52.8 billion per year- in disability benefits.The Administration now sends $100 billion a year to 10 million people.
Add to this the 15 million (20%)
out of 76 million baby boomers who will become disabled over the next 10 years, the inescapable conclusion is that the Administration will run out of enough workers to pay for the disabled and retiring 5 years sooner than the 2014 year previously forecast by the Government Accounting Office (GAO).
In a statement released in 2003, the Social Security Administration said that as of August of that year, monthly benefits are being paid to 498 individuals disabled by the terrorist attacks of 9/11, and 81 of their dependent spouses or children for a total of $3 million per month.
The Administration...
Bankruptcy > Katrina Casualties Could Speed Bankruptcy Of Social Security Benefits To 2008
Chapter 7 Bankruptcy Software
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