S. 3924: We Can't Wait Act of 2026

The We Can't Wait Act of 2026 aims to change how disabled individuals can access their disability insurance benefits during a waiting period. Here’s a breakdown of what the bill proposes:

Key Provisions

• Election to Receive Benefits: The bill allows individuals applying for disability insurance benefits to choose to receive those benefits during the waiting period. This is significant because currently, there is a period during which applicants must wait before they can start receiving any benefits after their application is approved.
• Eligibility: Individuals who have not reached early retirement age can make this election. They must do so in writing, which may include selecting an option on their benefit application form.
• Timing of Election: The individual can elect to receive benefits during the waiting period at different points:
  • If they have applied for disability benefits before this law takes effect, they can elect to receive benefits within 45 days of the law's enactment or within 10 days after receiving a favorable decision.
  • If they apply for benefits after the law takes effect, they can make the election at the time of applying or within 10 days thereafter.
  • For individuals whose benefits need to be managed by a representative payee, that payee can confirm or revoke the election within a specific period.
• Benefit Calculation: If an individual chooses to receive benefits during the waiting period, their benefit amount will be calculated based on a specific percentage and will remain unchanged for the duration of their eligibility.
• Public Information: The Commissioner of Social Security is required to make information available about how to elect to receive benefits during the waiting period, including tools to calculate how this option affects their benefits.
• Forms Update: The application forms for disability benefits will be updated to include options for electing benefits during the waiting period within 180 days of the law's enactment.

Effective Date

The new rules will be applicable to applications made or pending after the first day of the first month following 180 days after the law is enacted.

Relevant Companies

• None found