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Group disability insurance should be more important than ever

Since many people and employers are paying close attention to the latest health insurance changes, there are other types of benefits currently being overlooked. For example, group disability insurance is one that employers and employees should consider more important than ever before.

It doesn’t matter if you are one of our California readers or reside somewhere else in the U.S., paying attention to the disability insurance that you have is very important. This is true no matter if you are getting coverage through your employer or purchasing a private policy. There is nothing wrong with paying close attention to the Patient Protection and Affordable Care Act; however, there are other types of benefits, such as disability coverage, that should not be pushed to the side as a result.

The Patient Protection and Affordable Care Act has a direct impact on hundreds of millions of people, however, it is the 47 million with no health insurance coverage who are affected the most. Along the same lines, it is important to note that there are approximately 100 million working Americans who do not have private disability insurance. When you consider the fact that it is likely that a worker could suffer a severe financial loss from a disability, this number is astonishing.

As discussed by the Council for Disability Awareness (CDA) long term disability claim review, the number of employees receiving group long term disability insurance increased by only one percent in 2012. While any increase is better than none, you must take into consideration a six percent decline since 2008.

Employees must make sure they are receiving all the benefits necessary to ensure a safe future, including health care and group disability insurance. If an employee is denied a claim for benefits from a group disability insurance policy, an attorney specializing in employment law may be of help.

Source: Life Health Pro, “Disability insurance: Get it off the benefits back burner” Barry Lundquist, Oct. 23, 2013

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