What is LTD from an insurance company?

Discussion in 'Fibromyalgia Main Forum' started by IowanMom, Aug 16, 2006.

  1. IowanMom

    IowanMom New Member

    I saw someone state that they received LTD from their insurance company before they received it from Social Security. Is that "limited time disability"?

    How does one obtain this type of disability and do all insurance companies offer it? (We have Wellmark BCBS.)

    What types of disability benefits are offered out there?

    Thanks for the help!

    ~Amy~
  2. Txslady

    Txslady New Member

    LTD=Long Term Disability

    Every insurance has different things you will have to contact yours and ask about LTD.
  3. kirschbaum26

    kirschbaum26 New Member

    Dear Amy:

    I hope this helps. I have STD from my employer. They will pay me 75% of my salary for the first 6 months of my disability. We are fortunate in CA, as we have SDI (state disability insurance). For something like $350 per YEAR, we get about 50% of our salary for up to 1 year, based on your salary from up to 5 quarters previously. My company takes the money that SDI gives me and subtracts that from their 75%, so that between the two, I can get a MAX of 75% of my salary for 6 months.

    My company has a separate LTD insurance policy available from UNUM Provident (yuck). After 6 months of STD paid by my employer and state disability, I will get 70% (TOTAL) of my salary. I believe that at 1 year, in order to continue to get the money from UNUM Provident, I have to apply for SSDI. If I am awarded SSDI and given back pay, I believe I will have to pay that back to UNUM Provident. My company pays for the 40% level, and I have to pay something like $50 more per month to get the total of 70% pay. It was a great decision on my part, and it is the only reason that I am going to be able to consider not working any longer. My only big issue is that I would have to pay for my own medical insurance while I wait for the 2 years before medicare would kick in. It will cost me $1000 per month to cover my daughter and I through my current carrier, BCBS.

    Hope that helps.

    Ingrid
  4. suzetal

    suzetal New Member

    It is an insurance policy that you take out on your own and pay yearly premium.

    Or you can get it from your employer if they offer it.They pay a portion of your insurance premium and the rest is taken out of your pay check.You have the option of taking this coverage from your employer or not taking it.

    In order to collect you need to have had a policy in affect at your time of illness.

    If you do have it the insurance co makes the decision on Werther or not they will pay you.In some cases its a fight to get paid .Like SSD you need to prove your case.

    Normally the first year is no problem and they pay but when they find out its permanent they denie you benefits and you need to appeal,

    Hope I helped.Thats the way you get this coverage.
    Sue
  5. pamj

    pamj New Member

    LTD has allowed us to continue our life without incredible financial stress. For the first six months of illness, I received short-term disability (which was actually paid just like sick-leave in my company... full pay). After six months, you would qualify for LTD.

    I applied for my LTD at 6 months sick, along with the SSDI. Basically they pay anything over what SSDI gives me to equal 2/3 of my salary... but since it's not taxed, it's like getting full salary.

    It had only cost me $9 per month from my paycheck, and it's the best decision I ever made. They have been paying me for 4 years now, and after a recent review (and secret videotape of me), I am still approved. With my condition, and ongoing treatment, they will continue to keep paying until the day I hopefully recover. If not, I'll receive payment till age 65, then just Social Security retirement.

    Because it's through my company, I still receive group health coverage too... thank goodness!

    You could purchase a private LTD policy, but it would cost more of course. My husband has one in case anything ever happens to him, and it's about $100 per month. You would have to sign up for this while you are healthy though, as they wouldn't pay for any pre-existing conditions.

    take care,
    Pam
  6. KelB

    KelB New Member

    Wow Pam - good for you!

    Do you mind me asking which insurer that's with? My employer uses Unum and there's no way they'd ever pay out for CFS without a major fight.