SOCIAL SECURITY vs. EMPLOYER'S DISABILITY PLAN

Social Security disability covers almost every worker in the United States.  It is mandated by federal law and paid for by taxes deducted from the workers' wages, matched by tax paid by the employer.  Therefore, Social Security disability (SSDI) is often the only disability benefit available to a worker who becomes unable to work before retirement age.

In some cases, employers may provide private disability insurance other than Social Security.  I highly recommend that workers enroll in employer sponsored disability plans whenever possible.  There are two big reasons:

1.  It is very difficult to be approved for Social Security disability.  The rules are very stringent and your disability may be covered by a private insurance plan even when it is not covered by Social Security.

2.  It takes a long time to get Social Security benefits approved. We see claims take up to 3 years or longer sometimes.  SSDI never covers the first 5 months of a disability.  And they never cover an impairment that doesn't last at least 12 straight months.  Private insurance plans can often start payments much quicker and may help out until Social Security can be approved (if it ever is).

Most private disability plans merely provide "stop gap" disability coverage until the disabled worker can obtain Social Security benefits.  But this can be very important.

The time to check on what kind of disability insurance you have (or don't have) is now--before you need it.  A good rule of thumb is:  You generally cannot buy insurance when you really need it. 
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