![]() In many cases, a negotiated “ lump sum buy out” can be quite beneficial to the disabled individual and should be strongly considered. Based upon her life expectancy, economic situation, and medical needs, it was clear a “buy out” of her long-term disability benefits in her case would be foolish, and we advised her to decline the offer. When she inquired to the long-term disability carrier about potential impacts of the buy-out on other benefits, she was simply told “we don’t know, but you may want to call your s human resources department”. Unfortunately, the long-term disability carrier did not advise her that if she took the “buy out” she would be officially terminated from her company, and lose her most important benefit – her excellent non-contributory health insurance. She was offered almost one million dollars to “buy out” all her future long-term disability benefits. She worked as a top-level executive for a large consumer products company in the Mid-west. Our office recently represented a woman who was disabled due to a traumatic brain injury. Many group long-term disability policies are tied into continued receipt of health, pension, and stock benefits. Should you take it? Not until you speak with an experienced social security attorney.īefore you can evaluate any settlement, you first need to make an informed decision about whether you are first better off continuing to receive monthly benefits. The insurance company “makes you an offer you can’t refuse” to “buy out” your long term disability claim or policy. Negotiating Settlements in New York City and Long Island with the Help of a Social Security Attorney The number of credits you need and have earned depends upon your age when you acquired a disability and whether you have gaps in your work history. The SSA tracks your contributions through work credits. Workers pay into the Social Security system with each paycheck. Next, the SSA assesses whether you could perform other work considering your education, experience, age, and transferable skillset. First, the SSA considers whether the condition interferes with job-related tasks. You may still qualify if your medical condition does not equal the severity of the listing of impairments. Conditions not on the list are subject to an independent review by the SSA to determine whether they are comparably severe. Conditions on this list are automatically deemed disabilities. Upon a finding that it does, the SSA checks whether your condition is included on its listing of impairments. To assess the severity of your medical condition, the SSA first determines whether it interferes with basic work-related tasks. Social Security disability benefits are only available to individuals with severe injuries or illnesses. In addition to job income, you must report income from other sources, including: ![]() ![]() For example, in 2017, you would not qualify for SSD benefits if you earned more than $1,170 on average each month. The standard is very low, but increases incrementally annually. The SSA disqualifies disability benefit applicants that earn to much income. The disability has lasted for at least one year, is expected to last at least one year or is expected to be terminal.You cannot perform alternative work because of your medical condition.You can no longer perform the work you did before your medical condition.For the purposes of SSD, you are disabled if: Therefore, you may meet the definition of disability under workers’ compensation laws or recover for a disability in a personal injury lawsuit and yet not be eligible for SSD. The Social Security Administration (SSA) defines “disability” differently than other government programs.
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