how can social security take part of my workers comp settlement?
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on Sunday, November 8th, 2009 at 6:34 am and is filed under Worker Q & A.
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Because it is technically your income, even though it is not paid at 100% of what you make. (stinks dont it).
because we now live in communist russia
talk 2 ur attorney
….because it was replacement wages. . . . .wages are taxed by SS. . . .
In my experience, there are workers’ comp related offsets. Talk to a workers’ comp attorney and explain the situation. You should get a free consultation at least. Ask the attorney about Social Security Offsets…I think that is what this is. Good luck!
We assume you are receiving Social Security disability benefits. Those benefits are reduced when you also receive Worker’s Compensation. You are only allow to collect up to 80% of your average current earnings between the two programs. Otherwise your income would be more than when you worked. If you were paid your full Social Security disability because your Worker’s Compensation stopped and then receive a LS settlement from Worker’s Compensation, you become overpaid on your Social Security disability and that overpayment must be paid back from the settlement money. The settlement can also reduce the amount of your disability on an ongoing basis. You should consult with experts before signing a settlement agreement. There are ways to make the settlement not affect Social Security , but it can’t be changed after you have signed the settlement.
SSA does not “take” your WC benefits, they offset your SSA/SSDI
benefits as you are subject to the 80% rule as has been explained
here. If you are settling the comp claim by any way that changes
your medical benefits, you must take Medicare interests to account.
That may require a WC Medicare setaside arrangement. And, that may
or may not be in your best interest.