Does this do away?

[Jules A]

Thanks! Good info to know.

I guess I'm best to remain where I am for as long as I can tolerated unless something with equally attractive benefits presents.

[Daisycat]

Trevvian

i don’t plan to get to the disability part of this. So I’m a live in the moment type person. My LTD is amazing but I also need to think how long will I really need it for...


jules

my LTD pays 80% of my base income until retirement ago and at my company I can stay on the groups insurance if I’ve been there over a certain number of years.

[Jules A]

jules

my LTD pays 80% of my base income until retirement ago and at my company I can stay on the groups insurance if I’ve been there over a certain number of years.

How many years?
Regardless that is sweet, like state or federal insurance. Made even better that you love your job. I hope a nice safety net but not needed and we are both able to work until we choose to retire!

[trevvian]

DaisyCat, that's incredible coverage!

Jules, my evidence is anecdotal, as in too small to be statistically significant, but when I was laid off & job searching, I did a lot of research and read a lot of benefits summaries... maybe 30 companies? Mostly publically traded, all greater than 500 employees, most over 10k employees, all companies with both HQ white collar roles and field roles like health care, insurance, mfg, etc.

(One advantage of a broad network is that a lot of people were willing to share their companies enrollment guides)

The most common LTD had a 2 year look back, paid 60% of base salary until 65, and reduced payouts by the amount of SSDI, which they require you get approved for in order to be covered.

Some cover a shorter length of time, some base that on tenure. Like my current company only covers LTD for as many years as I worked there before applying, until I get to 5 years.

Quite a few had different "occupation" clauses. Some cover you if you cannot work in your CURRENT occupation. (This is one reason I got baseline neuropsych testing 6 months after Dx, so I can show I was smart once and my job requires that level of competence). Others only cover you if you are unable to work in ANY occupation. So if you are a Division Head when you become disabled, but you could work in a call center you're SOL.

And don't forget about taxes. If premiums are paid post tax you pay no tax on the payments. But if you pay pretax or it's company paid, your disability checks are taxed.

Like I said, though, it is kind of a crap shoot, because you can't always control leaving a job

[Jules A]

Thanks Trevvian! Very helpful. I guess the other thing to consider is the actual retirement age where they'd stop paying. I'm mid 50s now so each year that makes the LTD a little less significant. I'm not planning on doing anything extraordinary medical care wise so hopefully that will play out as planned. This was my pre-MS expectation for retirement late 70 years old and beyond as our world naturally narrows but with MS it could be expected in my 50s or 60s.

I also consider that if I am disabled and forced to retire early the items I spend a chunk of change on now such as automobile expenses, vacations, dinners out and work clothing will be a thing of the past. My houses are paid for. My expenses will probably be fairly minimal, provided the critter collection I currently have has thinned out also, lol.

Retirement and savings has fascinated me long before MS. Retirement planning is tricky enough let alone adding a known chronic, progressive illness into the mix. Thanks again for the info, I think this is important for everyone to consider early in life MS or not.

[pennstater]

DaisyCat, that's incredible coverage!

Jules, my evidence is anecdotal, as in too small to be statistically significant, but when I was laid off & job searching, I did a lot of research and read a lot of benefits summaries... maybe 30 companies? Mostly publically traded, all greater than 500 employees, most over 10k employees, all companies with both HQ white collar roles and field roles like health care, insurance, mfg, etc.

(One advantage of a broad network is that a lot of people were willing to share their companies enrollment guides)

The most common LTD had a 2 year look back, paid 60% of base salary until 65, and reduced payouts by the amount of SSDI, which they require you get approved for in order to be covered.

Some cover a shorter length of time, some base that on tenure. Like my current company only covers LTD for as many years as I worked there before applying, until I get to 5 years.

Quite a few had different "occupation" clauses. Some cover you if you cannot work in your CURRENT occupation. (This is one reason I got baseline neuropsych testing 6 months after Dx, so I can show I was smart once and my job requires that level of competence). Others only cover you if you are unable to work in ANY occupation. So if you are a Division Head when you become disabled, but you could work in a call center you're SOL.

And don't forget about taxes. If premiums are paid post tax you pay no tax on the payments. But if you pay pretax or it's company paid, your disability checks are taxed.

Like I said, though, it is kind of a crap shoot, because you can't always control leaving a job

Good summary of LTD. Two other things that are common:

1. A change in definition of disability after two years. Usually from your occupation, to any occupation. I was fortunate, as when it changed, the policy had a caveat, that it had to pay 80% of my pre-disability salary. A friend told me their coverage has since changed, to 50% of salary at 2 years.
2. Treatment of depression and anxiety as the cause. The policy may say covered for first two years, but after, no longer covered unless severe enough to cause institutionalization.

[Jules A]

Good summary of LTD. Two other things that are common:

1. A change in definition of disability after two years. Usually from your occupation, to any occupation. I was fortunate, as when it changed, the policy had a caveat, that it had to pay 80% of my pre-disability salary. A friend told me their coverage has since changed, to 50% of salary at 2 years.
2. Treatment of depression and anxiety as the cause. The policy may say covered for first two years, but after, no longer covered unless severe enough to cause institutionalization.

Good to know, thanks Kathy!

[Mamabug]

LTD policies are different.

I don't know what mine would pay if I were not eligible for SSDI.

But, since I am, it pays their minimum, which is only $100 per month.

That might sound horrible. But the good news is that:

- I also receive an amount from SSDI.
It adequately replaces what my part time salary was.

- I receive $100 every month until the total of my employment years plus my disability years total 25. (For me, that will be in 2023, when I turn 61.). From 2008 -2023, that adds up to approximately $20,000.

- Then I will receive a full pension, as if I had been employed by them for 25 years, even though it was only 10 years.

[Jules A]

LTD policies are different.

I don't know what mine would pay if I were not eligible for SSDI.

But, since I am, it pays their minimum, which is only $100 per month.

That might sound horrible. But the good news is that:

- I also receive an amount from SSDI.
It adequately replaces what my part time salary was.

- I receive $100 every month until the total of my employment years plus my disability years total 25. (For me, that will be in 2023, when I turn 61.). From 2008 -2023, that adds up to approximately $20,000.

- Then I will receive a full pension, as if I had been employed by them for 25 years, even though it was only 10 years.

That sounds like a decent deal overall and in the meantime $100 bucks a month is $1,200 a year so that will help with some expense for sure.