Aging baby boomers and unemployed workers have swamped the Social Security disability program with claims for benefits, which has sent the system – which was already facing a financial struggle – to the point of near insolvency. Since ten years ago, applications have increased by almost 50 percent, as individuals with disabilities are laid off and cannot find employment within an economy that has dropped almost 7 million jobs. The flood of benefits claims has created an increasing applicant backlog – many of whom must wait two years before their…
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New disability insurance program to be launched in Australia, will provide high-quality coverage to thousands
A new multi-billion dollar insurance initiative is underway from the Australian government. The Victoria region has been chosen for this insurance plan which is targeting at the nations disabled. Officials hail the plan as the most sweeping social reform since the advent of Medicare. The plan is a $6 billion behemoth which will seek to provide high-quality, long-term care for those that have significant disabilities regardless of the origin of the disability. The plan comes on the recommendation of the Productivity Commission, the government’s independent research and advisory board. The…
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