Have you sustained a disabling injury or are unable to work due to other medical complications? If so, you may have done some research and are aware of several different programs that offer benefits to those with disabling conditions. The requirements and application procedures for these programs can, in and of themselves, be difficult to unravel and navigate. On top of that, you should be aware of how they may impact one another and how they work. For instance, do you know if receiving Social Security Disability (SSD) benefits can impact a long-term disability claim? Let us take a look at this answer in detail here.
How Can SSD Impact Long-Term Disability Claims?
First of all, you can collect SSD benefits and long-term disability benefits at the same time. Social Security Disability (SSD) benefits include SSA-administered disability benefits programs such as Social Security Disability Insurance. When you pay Social Security taxes, they pay into the SSDI program. Should an injury or medical condition prevent you from working and you meet the SSA requirements for program eligibility, you may start to receive disability benefits after a waiting period of six months has been observed.
Long-term disability, on the other hand, is an insurance policy that is usually purchased through an employer. Should an employer not offer long-term disability insurance, then you can purchase such a plan through an insurance agent. It is a policy that works to protect you and your family should you be unable to work for an extended period of time. Usually, a long-term disability policy will pay out approximately half of your working salary, but there are plans out there available for purchase that will cover as much as 65% of your working salary. The payout will depend on the plan, your insurer, and your work-related duties. It can be especially important with long-term disability insurance to be aware of the terms of your plan. Know your premiums and how your plan may handle something like pre-existing conditions as well as how long your benefits would payout for should you need to access them.
As previously stated, you can receive both SSD benefits and long-term disability benefits simultaneously. In fact, some long-term disability policies have a requirement that you apply for SSD benefits within a set timeframe to continue receiving benefits. After approval for SSD benefits, your long-term disability insurance provider will likely pay you the difference between the SSD benefits and the allotted amount under your particular policy. The offset amount will depend on the specific terms of your long-term disability plan as well as the amount of SSD benefits that you will receive every month. For instance, should you be set to receive $2,000 in long-term disability benefits, but you receive $500 a month in SSD benefits, the long-term disability payments will be reduced by $500 a month so that you receive $1,500 under your long-term disability policy.
Riverside Social Security Disability Attorney
For more information on how different disability benefits programs interact with one another, reach out to the knowledgeable team at Disability Advocates Group. We will help you understand the benefits you are eligible to receive under various programs and work with you to help ensure you are maximizing available benefits. Contact us today.