Doctor Disability: Social Security Lax on Disability Claims
Physicians and dentists avoid getting doctor disability insurance for a number of reasons. Many think that disability won’t happen to them. Others will rely on workers comp or Social Security disability payments. But the reality is disability payments won’t cover your full income- most likely it won’t even come close. And Social Security disability claims are increasing steadily, taxing the already floundering system. 
According to the Associated Press, Social Security is so overwhelmed by disability claims that they have been awarding benefits even in cases with incomplete or insufficient evidence.
Part of the reason is a heavy backlog of cases. Judges are expected to rule on at least 500 cases a year. One judge will decide an average of 1,800 cases per year for three straight years. They are under heavy pressure to reduce a huge backlog of claims.
Disability claims usually increase in a bad economy. Many people who worked with their disability are laid off and then apply for benefits. Due to rising costs and the exorbitant number of claims, the disability trust fund is expected to run out of money in 2016, leaving the program unable to pay full benefits. Currently, about 11 million people receive disability benefits from Social Security, an increase of more than 23% over the past 5 years. Benefits average slightly less than $1,000 a month.
For physicians and dentists who make upwards of 100,000 a year or more depending on their specialty, even if they did receive disability benefits, the average payment of 1,000 a month wouldn’t cover their current expenses or come close to their current occupational income. Doctor disability insurance is essential to protect your livelihood in the event that you become disabled.