A person's employer might offer that person a variety of benefits as part of being employed. One of these benefits is disability insurance. While disability insurance can be very useful, some people may not know much about how such a benefit operates. However, under the Employee Retirement Income Security Act (ERISA) those who administer disability insurance plans are required to provide policyholders with a written account of the facts about the disability insurance plan, including the rules of how the plan is run, financial details about the plan and what documents are needed in order for the plan to operate.
Most people are glad to have health insurance benefits through their employer. After all, it is pretty easy to assume that sooner or later a person might become ill or injured, necessitating a trip to the doctor's office or hospital. If a person has health insurance, they can rest easy knowing that at least a portion, if not most, of their medical expenses will be paid through their insurance policy.
The federal Employee Retirement Income Security Act of 1974 (ERISA) provides regulations over disability insurance plans offered to workers of private employers as part of a worker benefit package. If a person decided to purchase disability insurance privately on their own, ERISA would not cover that plan.
Workers in New York who cannot work due to a short-term or long-term disability may be in need of financial assistance. This can come in the form of benefits from a disability insurance policy. The Employee Retirement Income Security Act (ERISA) sets rules regarding how an application for disability benefits under a disability insurance policy is processed, how long an insurer has to decide on an application and what the worker's rights are should their application for benefits be denied by their insurer. For ERISA purposes, there are a number of different types of claims that a person can pursue.
When you are involved in an accident that takes away your ability to work and make a living, filing a disability claim can restore a portion of your income. There is not a single disability claim, however, that covers all instances. Making the decision between long-term and short-term disability is a complicated process that requires a full understanding of each type.
A lot can be at stake for an individual when filing a disability insurance claim. Now, when it comes to issues that could heavily impact their future, individuals may not like to think about the possibility of things going wrong. So, when getting ready to file a disability claim, a person may be tempted to just stay focused on the best-case scenario.
You've carried long-term disability insurance to protect yourself and your family from poverty in the event of a catastrophic accident or serious medical issue, such as a stroke. After years of paying for coverage, you found yourself in need of your policy. Whether it was a car accident or a sudden medical event, adjusting to permanent disability can take time. Unfortunately, getting medical help and making your home accessible are expensive.
You have a medical condition that made you unable to continue working in the same career you once did. For some people, a disability can start as a repetitive stress injury. For other people, disability can begin in an instant with a traumatic injury of some sort. When you become unable to work your job because of an illness or injury, your long-term disability insurance helps protect you against poverty. However, many long-term disability options include clauses that limit what you can do once your claim for benefits gets approved. In some cases, you may not be able to work any job in the future.
U.S. retailers will soon hire tens of thousands of temporary workers for the holidays. While many will be hourly employees, low-level managers will likely be affected by a recent federal court ruling. Essentially, these employees may not enjoy the possibility of mandatory overtime pay under federal law.