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 is this the best time? Because he insurance policy is being issued to the group instead of the individual and therefore your medical history is not subject to medical underwriting. We'll usually limit or delay your coverage. When you enroll during the initial enrollment. This is one aspect of insurance where timing is everything.
A few times now we have mentioned pre-existing conditions. So, pre-existing conditions are or what? Is this: any medical condition for which medical care was received three to six months prior to the effective date of coverage. Just about every single STD policy has a pre-existing condition, exclusionary period. Until the pre-existing exclusionary period ends, the prior medical condition will not be covered by the policy but as soon as the period ends, it will be covered.
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?
A lot of people think that health expenses are covered by short term disability coverage. However, STD provides income replacement, but since it is paid to you, you could use it for health expenses if need be. Finally, it is legal for your employer to use his knowledge of your disability to determine your eligibility for other benefits. If you suffer from a disability that can severely affect your future health, this means that your employer may choose to raise your premiums.
Be sure to read Part 1!
Article Source: http://www.orbitaloc.com/
Ed Brancheau, aka The Insurance Egghead, guides businesses, families and individuals toward finding short term disability. His website, The Insurance Egghead, has pages and pages of free guides, articles and advice about every type of insurance: health, dental, vision, accident and life.
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Article Title: Discover what short term disability coverage is and how it can help you. Part 2
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