If you should become disabled, everything gets put on hold while you figure out what happens next, especially how you will supplement your income in the interim. So the last thought you want to have is how you will be able to pay for medical expenses, day-to-day necessities or monthly bills.
Unfortunately, when it comes to federal disability coverage, the government doesn’t offer much. Social Security can help cover you. And the government offers a disability payment through your FERS annuity. But these may fall short of covering your day-to-day expenses and medical bills.
We can recommend other options that you can take advantage of so that you are not put into a perilous situation.
There are federal disability benefits through Social Security, which are based on your average earnings. But even then, there are several stipulations. You have to have worked long enough to earn disability benefits, and you have to have a medical condition that has prevented or will prevent you from working for at least a year, or one that ends in death.
Social Security does not give money to workers with partial disability or short-term disability.
There are definitely gaps in the coverage that, should you be unable to work, would not cover the costs of your medical care.
Don’t struggle with endless research on the various options for supplemental disability insurance. Speak with one of our benefits specialists today and take charge of your disability insurance before it’s too late.