One extremely important point to keep in mind is that if you suffer from a pre-existing condition, the best time to enroll in short term disability insurance is during the initial enrollment period. Why would this be the best time to enroll? Because your medical history is not subject to medical underwriting; the insurance policy is being issued to the group instead of just an individual. We'll usually limit or delay your coverage. Simply put, enrolling during the initial enrollment period qualifies you for every potential disability. This is one aspect of insurance where timing is everything.
Pre-existing conditions have been mentioned a few times now. So, pre-existing conditions are or what? Any medical condition for which "medical care" was received three to six months prior to the effective date of coverage is referred to as a pre-existing condition. Just about every single STD policy has a pre-existing condition, exclusionary period. The prior medical condition won't be covered by the policy until the pre-existing exclusionary period ends.
You must enroll during the initial enrollment to meet the pre-existing conditions exclusionary period for short term disability coverage (which can last between six and twelvemonths.) To meet the pre-existing conditions exclusionary for short term disability coverage (which last between 12 and 6 months), you must enroll during the initial enrollment. Then you must continue to be an employee (or member of a professional group or association) and continuously remain enrolled in coverage during the service wait and pre-existing conditions exclusionary period. Upon the passing of the exclusionary period, you will then be covered for any pre-existing disability. Essentially exclusionary period is to protect employers from hiring previously injured employees, having those employees then claim that they were injured again and have the employer pay out benefits.
Is health coverage covered by short term disability insurance?
And a lot of people believe that short term disability insurance covers health expenses. This is not true, as it only provides income replacement, although as this money is paid to you directly, you may use it for health expenses. Finally, it is legal for your employer to use his knowledge of your disability to determine your eligibility for other benefits. Essentially, this means that your employer's insurance provider may be able to raise your premiums if you suffer from a disability that may severely affect your future health.
Article Source: http://www.orbitaloc.com/
Ed Brancheau, The Insurance Egghead, helps businesses, individuals and families find short term disability. Drop by his website, The Insurance Egghead, for tons of free advice, articles and guides about health, dental, vision, accident and life insurance.
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Article Title: Discover what short term disability coverage is and how it can help you. Part 1
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