According to the latest report, 76 percent of American employees have this coverage.
The latest report that has been issued by Allsup has revealed that approximately three in every four workers in the United States, or 76 percent, had coverage through Social Security disability insurance benefits in 2012.
This helps to underscore the importance of building an understanding of the role of work history.
Last year, among workers between the ages of 20 years and full retirement, there were approximately 195.1 million workers who made up the American workforce as a whole. Among them approximately 148.2 million were covered with disability insurance benefits. This, according to an analysis of the data that has been released by the Social Security Administration.
The 2013 Fast Facts & Figures About Social Security showed that most American workers have disability insurance coverage.
Comparatively, the percentage of workers in the United States who had this same Social Security disability insurance coverage was only 66 percent. Since then, coverage has expanded from two thirds of workers to three quarters across the country.
According to the personal financial planning manager at Allsup, Tricia Blazier, “Although millions of Americans are working, not everyone is fully insured in order to receive Social Security Disability Insurance benefits.” She added that “Your earnings record based on your previous work plays an important role in your ability to seek SSDI benefits.”
The report from Allsup also outlined the four primary elements of the application process for disability insurance coverage which involve work history, and which are reviewed by the Social Security Administration. These include the following:
• Whether or not the work history suggests that the individual is already covered
• Whether there is full insurance (of which there are two methods)
• Whether or not the applicant is currently considered to be disabled
• How much the individual will be receiving as a part of his or her benefits.
The work history clearly plays an integral role in the disability insurance coverage that a worker receives. This is information that is being increasingly sought, as a slow but steadily growing percentage of American workers are covered by Social Security.