What is short term disability coverage?
One extremely important point to keep in mind is that if you suffer from a pre-existing condition, the best time to enrol in short term disability insurance is during the initial enrolment period.
Why is this the best time? Because your medical history is not subject to medical underwriting; the insurance policy is being issued to the group instead of just an individual. Not signing up during the initial enrolment. Simply put, enrolling during the initial enrolment period qualifies you for every potential disability. As they say, 'Timing is everything! 'Timing is everything' when it comes to this aspect of insurance.
A few times now we have mentioned pre-existing conditions. So, pre-existing conditions are or what? Well, a pre-existing condition is any medical condition for which 'medical care' was received three to six months prior to the effective date for coverage. Pre-existing conditions, exclusionary periods are in just about every short term insurance plan. A pre-existing condition will be covered after the pre-existing exclusionary period ends, but it will not be covered before them.
You must enrol during the initial enrolment to meet the pre-existing conditions exclusionary period for short term disability coverage (which can last between six and twelve months.) To meet the pre-existing conditions exclusionary for short term disability coverage (which last between 12 and 6months), you must enrol during the initial enrolment. Then you must continue to be an employee (or member of a professional group or association) and continuously remain enrolled in coverage during the service wait and pre-existing conditions exclusionary period.
Upon the passing of the exclusionary period, you will then be covered for any pre-existing disability. Essentially exclusionary period is to protect employers from hiring previously injured employees, having those employees then claim that they were injured again and have the employer pay out benefits.
Is health coverage covered by short term disability insurance?
Many people think that disability insurance covers health coverage. However, STD provides income replacement, but since it is paid to you, you could use it for health expenses if need be. That said, your employer is legally able to use your short term disability to determine eligibility for other benefits such as life insurance and health insurance. Basically what this means is that if you suffer from a short term disability that would severely affect your future health, they may choose to raise your health benefit premiums.
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