Social Security Disability Offsets and Your Long Term Disability Policy
Did you know that most long term disability policies have a Social Security Disability benefit offset provision? That means that you are, by the terms of your disability policy, required to apply for Social Security Disability benefits. And, once you are approved for those benefits, you need to pay back the insurance company the “overpayment”. The overpayment is the difference between your gross long term disability benefits and your Social Security Disability benefits. That can mean that your monthly benefits are reduced to something called a minimum mandatory payment which is generally one hundred dollars per month, or 10% of the gross amount of your disability policy.
Interestingly enough, the long term disability carriers that force you to apply for Social Security Disability benefits may offer you a Social Security representation. That’s a bad move! Why? Many times these “representatives” are just that. They are not lawyers. And, more importantly, they don’t have your best interests at heart in developing all the medical conditions that will keep your long term disability benefits in place!
Many times, claim’s representatives, or attorneys employed by the Social Security company, will develop medical conditions, like psychiatric conditions, that may have a limited two year benefit payment. They may very well ignore the fact that you have herniated discs, heart condition, or another medical condition that may be the physical cause of your disability.
If you want an attorney to argue the Social Security Disability case in your favor and maximize your long term disability benefits you have a legal right to select representation and you should consider hiring Social Security Disability/ long term disability expert Nancy Cavey who can maximize your recoveries. Contact her today at 727.894.3188 for a complimentary consultation.