If you suffer an injury or illness that affects your ability to work, you may need to file a disability insurance claim. You may be enrolled in short-term disability (STD) coverage when your application is approved. When your STD benefits are exhausted but you still can’t return to work, a long-term disability (LTD) insurance program will typically begin.
Here is what you’ll want to know about Colorado’s LTD insurance program as you begin navigating this process.
Eligibility
Usually, employees regularly scheduled to work 12+ hours a week are eligible to enroll in the LTD insurance program. Further, one’s condition must meet the definition of a disability. And it must continue to do so during the waiting or elimination period (the number of days that should pass before one is eligible for benefits). With LTD benefits, the waiting period is 180 days.
Therefore, you will provide your updated medical records upon application to verify your disability and may be requested to do so as well at a later time to prove continuous disability. If your medical condition can no longer be considered a disability during the latter review, an initial approval of a claim can be retrieved.
Ensure that you keep tabs on your medical records. They should be accurate; any unfair minimization of your condition can lead to a denial. Incomplete medical records can also raise doubt about the severity of your condition.
Length
LTD benefits are payable until the full retirement age, if applicable. However, those who sustained an injury or illness after age 60 may have a longer maximum duration. If you are eligible to enroll in the LTD program, you will receive 60% of your earnings and a maximum of $10,000 monthly, as long as you remain eligible.
If you believe you are eligible for long-term disability benefits, obtain adequate information to better ensure that you can secure a reliable income replacement.
