If you are of retirement age, you can, however, file for both SSD and Social Security retirement at the same time. If you are approved for disability benefits, you will be paid the higher amount, usually the SSD amount, rather than the retirement benefit. If your application for SSD is denied, you can still collect Social Security retirement, so no harm is done by filing an application for both benefits. In essence, you have nothing to lose by covering all your bases, and may end up with a higher monthly payment if your application for SSD is approved.
If you are not eligible for SSD because you have not worked enough in recent years to qualify for this program, you may be eligible for Supplemental Security Income (SSI), provided your total income and assets are not valued at more than $2,000. Keep in mind that total income includes any Social Security retirement benefit you receive, so if your Social Security benefit puts you over the $2,000 limit, you will not be able to draw SSI, even if DDS has determined that you are disabled. The only way to collect SSI and Social Security at the same time is if your total monthly income does not put you over the SGA, or substantial gainful activity amount, and your assets are not worth more than $2,000.
You can collect disability payments from private disability insurance policies while collecting SSD or Social Security retirement benefits. Long-term disability insurance benefits from your employer or an insurance policy you took out yourself, private pensions, and workers compensation benefits can all be collected at the same time as SSD.
There are usually limitations to the total amount you can draw, however. In many cases private disability insurance companies require that policyholders apply for SSD. If SSD is approved, then the insurance company reduces the benefit paid out to the policyholder accordingly.
Likewise, Social Security will reduce the amount of SSD benefit paid to a claimant if he or she is receiving workers compensation. Those who are awarded SSD and are receiving workers compensation will continue to receive a reduced monthly benefit from Social Security until their workers compensation benefit runs out. This typically occurs when the recipient reaches full retirement age, at which time workers compensation payments automatically end, and SSD payments are converted to full Social Security retirement benefits.
