Today nearly 153 million workers are insured by Social Security Disability (SSD). If you are one of them, Market Watch cites these two (of four) steps that you should take to prepare:
(3) Consider your income sources, including SSD and long-term disability. If you have long-term disability coverage, the benefits usually begin three to six months after the onset of a disability.
Through the FICA taxes that you have paid, you may be eligible for SSD benefits. It can take more than two years to be approved for benefits, and many people are denied at the initial application level, so you should apply for SSD as soon as possible.
A Social Security Disability lawyer can help you navigate the system.
(4) Do not let your healthcare coverage lapse. If you do not have coverage, you may be able to purchase private insurance or secure COBRA coverage through your former employer. However, you need to have been uninsured for at least six months before qualifying for a Pre-Existing Condition Insurance Plans. All of these options are costly, but the alternative of not having health care may be far more expensive.
Individuals are not eligible for Medicare until 24 months after they begin receiving SSD benefits.
With the costs of medical treatments and medicine today, do you see the importance of having and/or maintaining your own health insurance?
If you or someone you know needs help with Social Security Disability benefits, contact Newlin Disability.