Disability insurance is something that can help people replace lost income when they are no longer able to work because of a disability. Figuring out the eligibility criteria for disability insurance programs is crucial for taking the right application steps for disability benefits. There are private disability insurance policies and Social Security disability benefits options. Reach out to a Philadelphia disability lawyer to figure out what next steps to take.
There are several ways physician disability insurance can be implemented. The three main ways include individual plans, group coverage, and association plans. Individual disability insurance plans are designed for one medical professional and often come with a lifelong premium. This means the coverage remains there for as long as premiums are paid.
Group coverage is provided to employers. A hospital or other medical group could purchase a group disability insurance plan. These plans are less expensive but provide less coverage for disabilities. Association disability insurance plans are less costly, but the premiums increase in price over time.
To qualify for disability insurance, a medical professional must have a mental or physical disability that results in an inability to work. This means not being able to work at all or losing a certain portion of their income. Some policy riders allow physicians to continue working and receiving disability insurance as long as certain conditions are met.
Private disability insurance companies have different eligibility criteria for what meets their definitions of a disability. A specialty own-occupation is when a disability prevents someone from performing tasks of their own specific medical profession. Own-occupation is when a disability prevents someone from performing material and substantial work duties.
Modified-own occupation is offered to people with disabilities who are no longer able to work at all due to diminished work performance. Any occupation is provided to those with disabilities who cannot work in a career they have education and training in. The any occupation definition is usually in group insurance.
There are two Social Security Disability Benefits options, Social Security Disability Insurance (SSDI) and Supplemental Security Income (SSI). SSDI offers disability benefits for those who have earned enough Social Security work credits. Do not panic if you do not have enough work credits because SSI is offered for those who earn less than a certain level of monthly income.
When going through the application process for disability benefits, you may not be able to use your own medical sources. For example, the Social Security Administration (SSA) may require you to undergo a medical exam by a professional of their choosing. Try contacting a Philadelphia disability lawyer to learn more about how this works and your legal options.
Navigating disability insurance can be confusing at times. Talk to a Philadelphia group disability insurance attorney to explore options for private and government disability benefits as a medical professional. All you have to do is call Edelstein & Nelson by dialing (800) 300-0909 for a consultation today about your situation. Our team of lawyers is ready to help you take steps towards disability benefits.