3h. Specialty Insurance: Short & Long Term Disability
Short term and long term disability insurance are speciality insurance policies that can be purchased through an employer or agent. Each plan has requirements that detail when the payment benefits begin. If the programs are through an employer, the Human Resource department should be notified about absences due to cancer.
Short term and long term disability insurance are benefits protected by federal laws. The intent of the policies is that patients receive the benefits while intending to return to work.
| Short-Term Disability Insurance | Long-Term Disability Insurance | |
|---|---|---|
Length of Payment Benefits | Typically 3, 6 or 12 months | 2, 5, or 10 years; lifetime plans are available |
Waiting Period | Typically 14 days | Typically 90 days |
Payment Amount | Typically 40-70% of lost wages | Typically 60-80% of lost wages |
If a patient is not able to return to work, the next step is to look into the following programs and resources:
- Retirement funds
- Social Security
- Social Security Disability
- Other programs