This had me curious so work is nice enough to list what they pay for benefits now
Cigna short term 60% of salary costs them - $8.55 a month
Cigna Long term 60% of salary costs them - $68.12 a month
I thought when I paid out of pocket for similar stuff in the past at other companies the costs were around the same price point
I have something like that through work and upgrade from 60 to 80% for like $0.20 per pay period. With wheel to wheel racing I figure it’s probably a well spent 20 cents.
yea this has been my experience any where that offered it raising coverage was a minimal
Disability insurance depends on your occupation.
Your employer is required to provide you with a minimum amount of coverage.
However, most of these “supplemental” sold by agents is inexpensive, but will rarely, if ever pay.
In my profession, for example, I need to suffer a disability equivalent to pretty much complete brain death to be deemed “disabled” by the insurance company, at which point they would actually pay. This is based on actual experience of others in my profession who have injured themselves and been unable to collect.
If you’re in manual labor a disabling event may be something like a broken hand or what not, but your premiums will be higher.
My advice is to self insure, I think supplemental disability is a scam.
Remember - the companies are in the business of collecting premiums, not paying claims.
I thought typical ‘disability’ insurance was for if you got hurt at work, and regular health insurance was for outside of work.
If you got hurt racing or mtn biking or whatever that would be regular insurance since you weren’t getting paid. If you were getting paid your employer would have had a disability insurance policy set up based on what your job was and paying a % of your income towards that.
no?
Comp (Worker’s Compensation)is for when you get hurt at work… or at least claim you did.
My insurance guy is always trying to sell me more insurance but it basically comes down to how much you want to gamble. Insurance = gambling
You are basically betting on misfortune. How much do you want to bet.
My health insurance person tells me that 1 out of 2 people get cancer now, then she asks me if I want to buy cancer insurance and I LMAO. It is gambling. lol
DBL does not cover an injury at work. Health insurance is used to pay for medical bills arising from injuries related to anything other than WC. They do not reimburse any lost wages.
New York State disability benefits insurance provides temporary cash benefits paid to an eligible wage earner when he/she is disabled by an OFF THE JOB illness or injury, and for disabilities arising from pregnancies.
Worker’s Comp. was established in 1911, due to the worst factory fire in NYC history. It was called the Triangle Shirtwaist Factory and a fire broke out on the top 3 floors of a 10 story building. The fire quickly spread among the reams of fabric and 146 workers died in less than 15 minutes.
In order to keep the workers (mostly Jewish woman immigrants between the ages of 13-23) at their sewing machines, the owners had locked the exit doors.
At this time, the only way a worker could recover damages sustained in a work related accident, was to sue the employer. It was the responsibility of the worker to prove that the employer was negligent. This led to lengthy court hearings and made it difficult for workers to obtain compensation and medical care quickly. At the same time, it left employers open to costly lawsuits.
NYS was actually the first state to form a WC law (go figure). It would ensure that in exchange for guaranteed medical coverage and compensation for lost earnings, employees would not sue their employers in the event of an on the job injury.
Now instead of competing against Jewish women I have to compete against Chinese children. Sorry to go off topic but insurance is a huge cost for me which kills my edge.
Comp should no longer exist with Obamacare. There is no reason for comp because EVERY worker already has insurance now. Right?
Well, I kind of specialize in WC coverage. I work with lots of companies who self insure their WC coverage and they have complete control over their claims vs. battling with the courts on why they shouldn’t pay a certain claim. We have had cases where we hired our own PI to follow someone, caught them in the act and then presented our findings to a (Liberal) judge in Buffalo, only to have him tell us that our ex-employee would still be receiving his benefits.
Now there are things you as the employer can do, pay first aid claims out of pocket up to $500, maintain accident reports, implement safety programs, verify your loss history/payroll are correct in the states database…if you have been issued an experience mod, verify that this mod has been calculated correctly, etc…these are the kinds of things that most “agents” don’t do for their clients and the client has no idea if they paid $10k in insurance, when it should really have been $6k.
NYS certainly isn’t going to know that someone fat-fingered a button in Albany and it cost you $4k.
I know someone who did the same thing. The guy was splitting firewood on video but couldn’t do his job?!?
The best solution is to GTFO of NY.
I have only had 3 claims and they have been Monday mornings with no witnesses. Hmmmmmm. We get the occasional minor cut or bruise but we really have an incredible record, especially if you count only the ones with witnesses. Knocks on wood.
I have a friend whose been out of his desk job for over 2 months after having 2 surgeries on his hand and they’ve paid 100% of his missed pay in that time. I know of plenty of other people that have had payouts on desk jobs too. Weird.
Excuse me, you mean East side lottery right?
You need to be employed to make a comp claim. I have always heard it called The South Buffalo lottery. I didn’t make it up.
↑ Lol, lout of us southys with city jobs thats why. Shit, I was on comp for my shoulder had get get surgery from lifting a 400lb pump up.
My desk job is a little different from other desk jobs.
With my profession, if you can talk and understand what people are saying to you, you’re not disabled according to the insurance companies.
Lawyer, liar, mirror, tell me what’s the difference?
It’s kind of silly to think this way since the carriers rate current plans based on past claims. Regardless of what was paid out, they generally collect more money to make up for it down the road. My general rule of thumb is for every $1 paid out by the insurance carrier, the customer pays $3 in premium. You would think that most employers would promote workplace safety more so that they can retain the premium dollars in their pocket.
When a carrier writes a policy, they pretty much have an idea of what they are going to have to pay for. Insurance is rated on statistics of the past.
Are you sure this isn’t a workman’s comp, not Disability? Hand/wrist surgeries related to Carpal Tunnel are a lot of times WC; where they do payout 100%.
Yes, it’s DBL. It’s not a work injury, he almost sliced off his pinkie at my house while cutting an onion.
You need to make a better argument, Counselor. 
I suppose that might depend on the injury and what type of attorney you are. I mean if you’re hopped up on pain meds, I don’t think you’d really be able to preform your role as an adviser effectively, and be potentially opening yourself up to malpractice. If you’re a trial attorney, are you an effective advocate if you can’t stand etc.
My wife and most of my friends are blood sucking leeches lawyers too.
I don’t have disability insurance but I do have accident insurance through combined. I signed up years ago when I was deputy. They have paid out quickly all three times I have filed a claim. All you have to do is send in the doctor or hospital bill and they pay you for your accident. I think I get $300 for a doctors office and $600 for a hospital visit. So usually I go to the hospital if I need stitches. If you get admitted to a hospital it is something like $1000 a day you are in and $500 a day for half the amount of time you were in the hospital when you leave the hospital. It costs me $18 a month and covers any kind of accidental injury whether you are on the job or not.
