Based on several professionals, the level of financial illiteracy all over the world is becoming worse. Employees are often not aware of their legal rights to get their disability benefits before they start suffering from one illness or accident.
The purpose of this article is to enlighten you more about short term disability and prepare you for paperwork and legal requirements you might encounter when applying for short term disability payments.
What is Short Term Disability?
A disability happens when you are unable to work or do the things you used to do temporarily due to an accident or illness. If this temporarily disability stops you from staying away from work, then you might be eligible for what we call ‘temporary disability benefits.’ You need to have an adequate amount that will cover your essential needs and some for your recovery expenses.
The illness or injury you have doesn’t mean it has to be related to work issues before it can be considered a short term disability. However, these usually happen at the workplace or based on some work factors. The office or workplace happens to be the scene of an accident most of the time.
Based on research in the U.S. in 2015, over 3.5 million illnesses and injuries occurred in the workplace, and let’s assume this is the actual number. As a result of the legal consequences for most employers, these eventualities or accidents are mostly covered up. The main figure is over 7 million illnesses and injuries.
Short Term Disability Benefits and Insurance
The primary idea is that if you are encountering a short term disability, your employer is meant to pay you some percentage of your income or wages to compensate you for your income loss. This will only happen for some time, and the amount you are going to be paid relies on the nature of the injury and the time frame for you to recover.
However, this is based on the legal jurisdiction of the country where you stay; your actual compensation may vary between 40% or 60% of your total income. Of a truth, this percentage reflects only in the employer’s legal duties to you. You can also seek other insurance options or companies that will provide you with different insurance packages. They will help you cover various liabilities, where the amounts you pay depends on the premium benefits you decide to pay. This payment happens every month.
Another key thing to note is depending on the country you live, and those insurances may either be subject or not be subjected to income tax. Generally, you will begin to get your benefits two weeks after you have sustained an injury – those benefits will be given to you in different periods from nine weeks to one year. This is a usual practice that the victim of the accident or injury will use their days of sickness, before reaching the appropriate short term disability period.
You should ask your employer because sometimes, they might be working with a disability insurance company preparing provisions of different services and compensation for injuries or accidents that is likely to occur in the workplace. Not considering whom the provider is that is paying out your insurance, your accident or short term disability in all probability is the subject matter of scrutiny by their medical board.
The medical doctors will decide whether your accident is proper for you to obtain short term disability benefits, or not. You can also be promoted to get long term disability benefits that are usually paid out between 10 to 53 weeks.
Short Term Disability Occurrences in the U.S
The information here is hypothetical, and it should only open your horizon to a general overview of what you have to look for when you are carrying out your research. If you are in a short term disability and want to receive your benefits through your employer, the first thing to do is to consult with the management of the company always.
You can decide to take short term disability insurance, to secure the loss of income that can be caused as a result of an accident or injury that makes you stay away from work. If you happen to have accidents or injuries related to work issues, your compensation insurance helps you cover it.
The short term disability insurance does not cover for any recovery cost. It is associated with the wages you are missing out already, and this is the reason the disability insurance is always a certain percentage of your income. An insurance firm usually provides the short term for you as an employee of a company through an insurance agent. Different choices of insurance benefits packages will be given to you.
On the norm, the employers will provide at least one preference for insurance, but if they do not offer it, employees can find an insurance provider by themselves; This could be an individual plan as a substitute for a corporate one.
How to be Eligible for Short Term Disability Insurance Benefits
Length of Service:
This is one of the critical factors that are always considered as an employee to be eligible for disability benefits, where the income amount or percentage of each employee could vary. The higher chances of getting a short term disability insurance benefits depend on the length of the time working in a company.
Further breaks from work:
They can also be a constraint for the employees to have stayed with the company for a specific amount of months consecutively before they deem fit for benefits. If the employee has been in a protracted situation:
- This can either be sabbatical leave, or a prolonged paid or a sick that is yet to be paid. This might make them become disqualified for further assistance.
Sick Leave Requirement:
- Some employers can decide to tell you to use all the days in your sick leave before they can grant you their short term disability benefits.
- The insurance company or employer could tell you to see a medical doctor that has been appointed to examine you
Short-term disability insurance has its merits and demerits. Therefore, you don’t have to be ill-bred about your employer’s rules. You have to be interested enough to know about your employer’s working conditions. Because anything can happen to your health and can make you stay away from work.