Today more employers are trimming long-term disability benefits and at the same time pushing the costs of long-term disability coverage to employees. The sea change in how the cost of long-term disability benefits coverage may go unrecognized by many employees because a number of employers in the past covered the whole cost of long-term disability and because many employees focus more on healthcare coverage. Employees should be sure to review their long-term and short-term disability benefits.
Many workers today do not envision experiencing a long-term disability or even a short-term disability before they retire. The workplace reality is that one out of four employees in Wisconsin and in the United States will be disabled before retirement. Disability insurance and the ability to earn an income are extremely important issues since the average worker's largest asset is their ability to earn an income. Once disabled, the likelihood of returning to your previous position is greatly declined.
Last time we spoke about long-term disability benefits and began to talk about five things that Wisconsin workers should consider when thinking about their long-term disability benefits. During the previous post we talked about monthly caps and the idea of getting an individual policy when a company policy may not be enough. This time we will finish the discussion by examining the last three points.
We have not spoken about long-term disability benefits for a while and there are some things that workers in Wisconsin should consider when thinking about their long-term disability benefits. Here are five contemporary issues regarding long-term disability benefits.