The backlog of applications for disability benefits is so big the Social Security Administration has a special code—DXDI—for appeals dismissed because the applicant died waiting. Since 2005, the agency has made 15,043 DXDI designations.
Dec 28, 2011
15,043 Died Waiting For Disability Determination
From today's Wall Street Journal:
A Race To The Bottom Garners Only A 6% Market Share For Binder And Binder
That Wall Street Journal article on Binder and Binder indicates that they took in $88 million in fees for representing Social Security claimants last year which is a lot but that the total for everyone representing Social Security claimants was $1.4 billion. By my math, that means that Binder and Binder had only a 6% market share nationally despite spending $20 million on television ads and an untold amount on search engine advertising.
Binder and Binder's influence goes beyond what its market share might suggest. Perhaps this would have happened anyway but several other firms are trying to operate nationally in ways somewhat similar to Binder and Binder and many other firms operating regionally are also cutting service to clients while ramping up advertising. It looks like a race to the bottom -- who can cut service the most so they can spend the most on advertising.
Dec 27, 2011
User Fee Stays At 6.3%
The user fee imposed on those who receive direct payment of fees for representing Social Security claimants will remain at 6.3% in 2012.
Dec 26, 2011
Paying For Referrals
From a press release:
Freedom Disability, a national Social Security Disability Advocacy group, has launched Freedom Cash Rewards, a unique online referral program designed to connect those who need Disability benefits to a premier advocacy service. Through this program, both the referrer and the person being referred would have the opportunity to earn cash rewards starting at $50. ...
[I]n addition to receiving high quality advocacy service for their Social Security Disability case, the disability claimant will also receive $50 once they have completed the initial interview with a Freedom Disability Advocate ...
As the attorneys reading this know, paying for referrals is a good way to lose one's license to practice law. Of course, Freedom Disability is not a law firm.
Dec 25, 2011
Dec 24, 2011
Means Testing Social Security?
Is means testing Social Security a good idea? Kevin Drum at Mother Jones gives some cogent supply side reasons why it would be a very bad idea.
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