SSDI, Employee paid LTD and Private Paid LTD

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SSDI, Employee paid LTD and Private Paid LTD

Postby SaltCity » Sun Jan 20, 2013 1:19 pm

Hello,

I'm new to this site. I'm 50 plus and have had MS for at least 30 years. I'm still currently working however it is / has been increasing difficult.

My question is I understand that if I did go out on a disability my company has a 26 week salary continuation program, X weeks at 100% then X at 66 2/3. After I have reached the 26 week limit I would be required to apply for LTD at 66 2/3 until I would have reached the normal SS retirement age.

My question is: I have been paying into a private LTD for nearly 30 years now, does anybody know if I could collect my company LTD (I'd have to apply for SSDI at the same time and the Company LTD would be offset by SSDI and collect on the Private LTD?

I spoke to a lawyer and they mentioned 'it depends' since this going out on a disability would be like squeezing a tube of toothpaste (hard to reverse) I'd like to think that the private LTD is separate from my employers LTD program and the private LTD would not be offset by my employer paid LTD & SSDI.

It is getting near the time to make some big decisions I recently got a manual wheel chair but walking and my energy levels continue to decline. Any thoughts would be helpful.

Thanks

SaltCity
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Re: SSDI, Employee paid LTD and Private Paid LTD

Postby jay123 » Tue Jan 22, 2013 5:08 pm

Private ltd is tax free it won't effect your reported income at all, I don't see how it could effect anything your employer does. I had private ins on my mortgage and car loans, basically the same situation you are in. Just don't ever discuss it with anyone, it's not their business, why bring it up. It's not income! IMHO, you are extremely lucky and in very good shape since you did buy this private insurance 30 years ago, congratulations!
BUT, you need to get with a lawyer for a real answer. I would suggest a disability specialist.
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Re: SSDI, Employee paid LTD and Private Paid LTD

Postby SaltCity » Wed Jan 23, 2013 2:01 am

Family Elder, Thank you for your input, one of my biggest problems is transparency folks read me like a book so I'm the kind of a guy that hides very little, I'll have to work on that when the day comes to file. One more thing, the only reason I purchased the private LTD way back then was my best child hood friend was killed so my thought process at the time was what if it was me and I survived? Oh well, sometimes we all make choices early in life only to find out how important they were later on! Thanks again for the comment.
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