At DeHaanBusse LLP we believe that all Americans are entitled to receive the disability benefits they have been promised according to the law. During times of crisis, should you suffer a physical or emotional injury or illness, the disability insurance provided to you either under an Employer-Sponsored (ERISA) Plan, a Group Plan, a Government Plan or an individual Plan must do what it is supposed to do: cover you when you need it the most.
Although becoming disabled is not a topic any one of us wants to anticipate or talk about, according to the U.S. Census Bureau, approximately one-fifth of all Americans have a disability. That statistic makes it a topic we all have to talk about and plan for.
Before reaching age 65, one out of every five American workers will experience a disability that impairs their ability to work for more than six months, and approximately one in seven will be disabled for a period of five years or more. Even more alarming, in the 35 to 65 year age group, 30% of those working individuals will experience a disability that lasts at least 90 days, and one-fifth of that age group will be disabled for five or more years.
So, what would you do if you could not work? How would you support yourself and your family? The first thing you should do is review any and all disability plans/policies available to you. The second thing you should do is seek the advice of a disability attorney.
Sources of these disability benefits include:
Federal Employee Retirement System (FERS)
An individual working for the Federal Government is eligible to receive a disability retirement annuity if he or she suffers a debilitating physical or psychological illness or injury. The disability retirement annuity is coverage in addition to the Basic Benefits Plan, and is mandated under the Federal Employees Compensation Act.
A private insurance policy purchased by an individual which provides a monthly benefit if a disability renders them unable to work or reduces the amount they can work. These policies are governed by the law of the state in which they are issued.
Long-Term Care Insurance
In addition to providing “nursing home” benefits, these policies frequently provide a daily benefit to a disabled person.
Public Safety Officer’s Death & Disability Benefits
A benefit paid to Public Safety Officers (i.e., police officers, firefighters, correction officers, etc.) by the U.S. government in the event they are killed or suffer a catastrophic injury in the line of duty.
Workers’ Compensation Benefits
All employers in New York must provide benefits, lost wages and medical expenses, to employees injured as a result of an on-the-job incident.
Group Disability Insurance Policies
An insurance policy through a professional organization or other similar group which provides a monthly disability benefit. These policies are also governed by state law.
New York State Short-Term Disability Benefits
All employers in New York are required to provide at least 26 weeks of short-term disability benefits to employees who suffer an off-the-job injury or illness.
Premium Waiver Benefits on Life Insurance Policies
Life insurance policies often continue a person’s coverage at no charge to the individual during periods of disability. The disabled individual has to notify the insurance carrier of the disability and apply for this benefit.
New York State No-Fault Disability Benefits
Under New York’s No-Fault law, if a person is injured in an automobile accident and cannot work as a result of that injury, that person is eligible for a weekly “no fault” benefit in lieu of the wages lost while disabled.
New York State Retirement System Disability Pension Benefits
State and local government employees in New York who participate in the State Retirement System may be eligible for an early or disability pension benefit if they become disabled and unable to work.
New York State Teachers’ Retirement System Disability Pension Benefits
New York State teachers who participate in the Teachers’ Retirement System may be eligible for an early or disability pension benefit if they become disabled and unable to work.
New York City Retirement System Disability Pension Benefits
New York City workers who participate in the City Retirement System may be eligible for an early or disability pension benefit if they become disabled and unable to work.
Employer-Sponsored Benefit Plans
Employers often provide disability benefits beyond those required by New York State law. Such plans are governed by a federal statute known as the Employee Retirement Income Security Act of 1974 (“ERISA”) and may pay the disabled worker a monthly benefit equal to a percentage of their pre-disability income, typically between 50% to 66%.
Union Benefit Plans
Unions frequently provide a weekly or monthly disability benefit to their members and often provide for an early retirement or disability pension.
Social Security Disability Benefits
All workers in the United States pay the “FICA” tax as a payroll deduction, which funds the Social Security system. If a person has enough “credits” with Social Security, he or she may be entitled to a monthly benefit if a disability renders them unable to work.
Railroad Workers Benefits
Railroad workers may be eligible for disability benefits which mimic, or may even exceed, those available under Social Security.
Veterans’ Administration Disability Benefits
Veterans who suffered a disability while serving in the military may be eligible for a partial or full disability pension.