Disability Insurance Explained

You have read the information about the needthat prevents an employee from performing the
for disability insurances, and have checked outjob that they occupied at the time the illness
your company benefits to find that you DO NOTinjury occurred. To receive the disability benefits
have short term disability (STD) or long terminsurance payment, the plan participant must
disability (LTD) plan coverage. If this is yourqualify, based on the particular plan requirements.
situation, read the following. The time to do so isThere also is a qualifying period of time for LTD,
BEFORE you need to use that insurance!just like for STD, only the average LTD qualifying
The rest of you have checked out your companyperiod of time is usually 6 months. Again, like
benefits and find that you DO have STD and LTDSTD, the payment out of an LTD plan is
plans. Now you want to learn more about Socialplan-specific, and can range from a finite dollar
Security Disability Insurance (SSDI) andamount to a percentage of base pay.
Supplemental Security Income (SSI).Key issues to research in your LTD disability
(Note: a denial on behalf of an insurance companyinsurance plan include, but are not limited to:
for LTD does not necessarily have an impact onpre-existing conditions; "own occupation" vs "any
your ability to successfully apply and be acceptedoccupation" timeframes; whether or not the
for SSDI coverage.)monthly benefit payment is taxable or tax free;
Social Security Disability Insuranceetc. (Normally, the rule of thumb is that if the
If you qualify for Social Security (i.e., if you havecompany pays for the LTD plan premiums, the
acquired at least 40 quarters of Social Securitybenefit is taxable upon receipt; if the covered
contributions) and are suffering from a disability,person pays for the plan premiums, the benefit is
you may be able to receive monetary benefitstax free.) Again, for specifics about your LTD
from the Social Security Administration. Also, inplan, check out your Summary Plan Description.
some situations these disability benefits may beDisability and Medical Insurance definitions. You
awarded to you and your dependents.have plans, and you have read about such things
Social Security Disability Benefits or SSDI are paidas: COBRA, OBRA, Own Occupation, Any
to individuals who have worked in the recentOccupation, etc., and you REALLY want a simple
years. Usually you have to work 5 out of the lastdefinition. Well, we have them for you.
10 years. For individuals under 31 years old, theTo see a Timeline that makes graphic sense
requirements are a little different since they haveabout all of these definitions, please see To ask a
not been in the work force as long.question, add onto one of these blogs.
Under the federal Social Security Disability Act,DEFINITIONS
"disability" means the "inability to engage in any1. ACTIVE: Active medical insurance coverage
substantial gainful activity by reason of anymeans that you and/or your family are covered
medically determinable physical or mentalby a medical insurance plan. Usually, these plans
impairment which can be expected to last for aare "group" plans carried by your, or your
continuous period of not less than 12 months orspouse's employer (in which case, you are the
result in death.""covered dependent").
The Workbook described at contains a2. COBRA: COBRA is an acronym for
step-by-step "How To" guide to assist you in"Consolidated Omnibus Budget Reconciliation Act".
documenting your illness/injury symptoms andIt refers to an active medical coverage person's
their impact on your every day normal livingability to continue coverage as an inactive
activities.participant for 18 and, sometimes 36 months,
Supplemental Security Income (SSI)when a "triggering event" occurs. Loss of active
The Supplemental Security Income program iscoverage status is a triggering event. A triggering
funded by the general revenues of the Federalevent includes, but is not limited, to the following:
Treasury and is intended to provide a minimumloss of active coverage because the primary
level of income to persons who are aged,covered person lost his/her job (for any reason);
disabled, or blind and demonstrate economic need.divorce; a covered child's age exceeds that
The SSI program is meant to supplement anycovered in the Plan. The cost of COBRA
income an individual might already have to ensurecoverage is at least 100% of the Employer's cost,
a certain level of income to meet basic livingand can be 102% or 105%.
expenses. The dollar amount received in SSI on a3. OBRA: OBRA rules allow a "qualified" disabled
monthly basis varies from person to person andperson to extend COBRA for an additional 11
is computed each month, taking into account anmonths based on disability. There are key
individual's current financial situation.conditions; 1) the person must be SSDI qualified;
For an individual to be eligible for SSI they must2) the person must request OBRA within the first
be disabled, or blind, or aged and have little or no60 (sometimes 30) days of having received the
income and resources. A person must fit into oneSSDI determination letter; and, 3) the Plan
of the following categories: Disabled, Blind (20/200Administrator may charge 150% of the COBRA
or less in your better eye with glasses or a filedprice for coverage.
of vision less than 20 degrees), or Aged (refers4. Medicare: When a person becomes
to be 65 years of age or older).SSDI-qualified, s/he is eligible for Medicare 24
To be eligible for SSI a person must meet anmonths from the date of the first month of SSDI
income as well as resource test. SSI resourcepayment. As there is a 5-month waiting time
limits are set by statue and a person's countablefrom SSDI-qualification until the first month of
or real personal property, including cash, must notpayment (and this occurs the second Wednesday
exceed the specified amount to qualify. Theof the months AFTER the 5th month), the actual
current resource limit is $ 2,000 for an individualwaiting time is 29 months.
and $3,000 for a couple. Income includes earned5. HIPAA: HIPAA is an acronym for Health
income (which refers to monthly gross earnings),Insurance Portability and Accountability Act of
and unearned income such as Social Security1996. It is a way for people who either do not
Disability Insurance (SSDI) or any other type ofchoose COBRA, or who need to trigger additional
benefit or monetary support a person receives. Ahealth insurance before Medicare, to obtain some
standardized formula, which takes into accountcoverage.
earned and unearned income is used by SSA to6. 30-180 day Elimination Period for LTD: In most
compute the dollar amount of SSI cash benefitcases, a company's LTD (long term disability) plan
that a person qualifies for. This formula is appliedhas an elimination period of time equal to the
during the initial eligibility determination and anlength of the company's STD (short term
individual must qualify for some dollar amount ofdisability) coverage. During this time, the employee
SSI to meet the income test.is expected to obtain income any way s/he can.
The specifics of qualifying for SSI are quite7. Own Occupation: To be found "disabled from
complicated.your own occupation" means that you have been
The next time, we will talk about COBRA (and no,determined to be unable to perform the "work"
it is NOT a snake) OBRA, and their relationship tothat you had successfully performed prior to
Medicare and/or another health insurance plan.evidence that your illness/injury symptoms
These are all of the traditional disability insurances.impaired your satisfactory performance of the
Now we will discuss what they are, and why youessential duties of your job. The key here, is that
should care!the evidence must prove that your inability to
STD is an insurance that you are usually providedsuccessfully perform your "own occupation" must
by your Employer. It is an Insurance plan thatONLY be attributed to impairment caused by the
pays out a certain amount of money for a shortsymptoms from your proven, documented,
period of time (normally, no longer than 6disabling illness/injury.
months). There is usually a week of what is called8. Any Occupation: To be found "disabled from
"qualifying" time before the STD payment will kickany occupation" means that, in spite of your age,
in. Most folks can take sick leave, vacation time,level of education, and previous job history, the
paid time off, or some other sort of time for thissymptoms of your proven, documented disabling
qualifying time. This type of disability payment isillness/injury impair you from performing work of
for an illness or injury of a limited period of time.any occupation. The reason, for LTD insurance
An STD payment ranges from a low amount thatpurposes, that this impairment from performing
would equate to a state's Unemploymentwork of any occupation is periodically reviewed, is
payment, to a maximum of about 66% of basethat there are times when a person's physical
pay. To know about the specifics of your plan,capabilities can improve. Disability pay only
ask the appropriate people for a copy of yourcontinues as long as there is proven evidence that
STD plan's Summary Plan Description.the symptoms impair "work". Often the "periodic
LTD, or long term disability insurance paymentreview" occurs annually.
usually results from a physical or mental illness