Budgeting For Long-Term Disabilities In Florida
Long-term disabilities can happen at any age. Even if you are in generally good health, chronic health conditions, accidental injuries, and sudden, severe illnesses could put you at risk. While long-term disability benefits in Florida are available from several sources, getting a claim approved is often challenging and can be a lengthy process.
Our Orlando long-term disability lawyer provides trusted, experienced legal help to clients in these cases. Follow this three-step process in budgeting for whatever lies ahead.
- Accessing Your Disability Risks
The Florida Department of Health reports that over three million people throughout the state deal with some type of disability. When these prevent you from working for a year or longer, you may be entitled to long-term disability benefits.
In budgeting for the future, assess your current disability risks. Do you suffer from heart disease, high blood pressure, back problems, or other issues that could put you at risk? Do you engage in sports or recreational activities that have high levels of danger? Do you have a family history of conditions such as cancer, dementia, or leukemia? All require careful planning in budgeting for potential future disabilities.
- Determining Your Rights To Benefits
You may have several options when it comes to long-term disability benefits in Florida. Many people receive these benefits from employers as part of their overall compensation package. Under the Employee Retirement Income Security Act of 1974 (ERISA), you have a right to request copies of all policy-related documents. Do this right away and review the terms of your coverage.
You may also have privately purchased long-term disability insurance. Get copies of these documents as well. In addition, check with the Social Security Administration to see if you have enough work credits to qualify for Social Security disability benefits.
- Budgeting For Benefit Waiting Periods
Once you have an accurate assessment of your long-term disability risks and are aware of the benefits you may be entitled to, it is time to start budgeting. Unfortunately, you have to be unable to work before filing a claim. Plus, as you are dealing with insurers, the approval process can be lengthy and denials are common.
Many times, these claims are approved on appeals. However, consider how you will provide for yourself and your family in the time in between. Some rely on savings or may even dip into retirement benefits. Others are able to downsize or sell certain property, or can rely on the generosity of family and friends.
Get The Legal Help You Need From Our Florida Long-Term Disability Lawyer
Long-term disabilities can happen to anyone. Unfortunately, while you may be entitled to disability benefits, getting these claims approved is often a challenging process. At Farrell Disability Law, we have extensive experience helping clients in these cases. We can advise you on your rights in filing a claim and in appealing denied benefits. To request a consultation in our Orlando or Jacksonville office, call or contact our Florida long-term disability lawyer online today.
Sources:
floridahealth.gov/programs-and-services/people-with-disabilities/disability-and-health-program/DHP2021DataReport.pdf
dol.gov/general/topic/health-plans/erisa#:~:text=The%20Employee%20Retirement%20Income%20Security,for%20individuals%20in%20these%20plans.
ssa.gov/disability