disability insurance benefits Archives

Disability insurance challenges face many long COVID patients

January 4, 2023January 3, 2023 Marc

Employees are experiencing claims denials when applying for short- or long-term benefits in these cases. Workers who are battling with long COVID have found that they are also struggling with their disability insurance, as many claims for short- and long-term benefits have been denied when they involve that condition. Even short-term claims that are approved are often later denied for long-term benefits. According to a recent CNBC report, experts have found that disability insurance policyholders who are approved for short-term benefits can still find it difficult to receive long-term benefits.…

Disability insurance benefits bill moves forward in Rhode Island

June 24, 2013June 22, 2013 G. Turner

The legislation is designed to help to provide the temporary expansion of the coverage. A new Rhode Island disability insurance bill which is meant to expand the temporary benefits provided to residents who are required to leave work in order to care for a sick relative or a newborn, is now heading to the state Senate for their approval. This is following the bill’s passage by the Senate Finance Committee which occurred at the end of last week. The legislation was introduced by Senator Gayle Goldin (D-Providence). It would require…

Disability insurance struggles arising from application increase

November 22, 2012November 21, 2012 H. Cutner

As a growing number of Americans seek assistance, the program is facing serious challenges. It is now being estimated that the Social Security Administration’s funds to cover the costs of disability insurance will have been entirely spent in four years’ time. This will mean that the benefits will shrink for over 9 million disabled workers and their families. Income taxes will be providing enough money for only 79 percent of the disability insurance benefit, which will mean that – assuming the same number of individuals remain covered by the program…

Disability insurance benefits are not awarded properly 1 out of 4 times

September 21, 2012April 30, 2013

A Senate report is showing that 25 percent of cases are potentially unnecessarily costing taxpayers millions. A new report from the Senate is showing that one quarter of disability insurance benefits awarded by the Social Security Administration were done improperly between the years 2006 and 2010, which could possibly have cost millions of dollars to taxpayers. The findings were the result of an investigation that was held over eighteen months. The research was performed by the chamber’s Permanent Subcommittee on Investigations. What it discovered that approximately one out of every…

California workers compensation insurance overhauled

September 20, 2012September 20, 2012 Nordstrom

California Insurance Commissioner rejects workers compensation rate hike for the third time

Governor signs workers compensation insurance legislation into law California Governor Jerry Brown has signed into law a legislation that will increase the disability insurance benefits workers receive if they are injured on the job. The legislation aims to provide workers with benefits more fitting to the rising costs of worker’s compensation insurance premiums. These premiums have been growing in California, largely due to the growing costs of medical care associated with workplace injuries and the prevalence of fraud. The legislation was approved by the state Legislature last month, but was…

Liberty Mutual announces new disability insurance benefits to assist mid-sized businesses

February 29, 2012February 29, 2012 Nordstrom

Liberty Mutual Insurance has unveiled its new Benefits Select product line in an effort to better serve mid-sized businesses and the employee benefits consultants and brokers who work with them. The Benefits Select group disability product suite is designed to be a cost-effective way for these employers to be able to offer more attractive passengers to current and potential employees so that they will experience better retention while still keeping an eye on the bottom line. According to the chief operating officer at the group benefits unit of Liberty Mutual…

The importance of understanding and obtaining disability insurance

November 20, 2011November 18, 2011 Julie Campbell

Disability insurance is one of the most important decisions that you can make to help to protect your financial future and financial advisors, not just insurance agents, are recommending these products to their clients for just that reason. That said, the decision to obtain the insurance and the choice of insurer to provide it is up to you. There are many different issues to consider, from monthly premiums to the type of coverage that is provided. That said, you shouldn’t let a little bit of homework stop you from purchasing…