Yes, long–term disability benefits can be taxable, depending on how the insurance premiums were paid. If you paid the premiums with after-tax dollars, your benefits are generally not taxable. But if your employer paid the premiums, or you used pre-tax dollars, you’ll likely owe taxes on the benefits you receive. Understanding how your disability benefits …
Short-Term vs. Long-Term Disability Insurance
When comparing short-term vs. long-term disability insurance, you should know that both provide income protection if you cannot work due to illness or injury, but they differ in duration, coverage, and purpose. Understanding the differences between these two types of coverage can help you make informed decisions and ensure that you are protected during unexpected …
What Happens When an Employee Goes on Long-Term Disability?
When an employee goes on long-term disability (LTD), they typically stop working and begin receiving monthly benefits from an insurance company to partially replace their lost income due to a serious medical condition. This transition can be stressful and complicated, involving medical documentation, employer policies, and insurance regulations. Understanding how the process works can help …
What Medical Conditions Qualify for Long-Term Disability?
Wondering what medical conditions make you eligible for long-term disability benefits? From chronic pain and serious heart disease to mental health issues like PTSD, knowing which conditions are recognized is key to getting the benefits you deserve.