I’ve heard about LTD, or long-term disability insurance, but I’m not sure how it connects to health insurance. Does it help cover health costs or is it a completely separate thing?
LTD isn’t the same as health insurance, but it’s related in some ways. It replaces part of your income if you can’t work due to a disability. This money can help you pay for health insurance premiums if you lose your job-based coverage.
@Skyler
Exactly. If you’re on LTD and lose your employer’s health plan, you might need to get COBRA or marketplace insurance, which can be expensive. LTD payments can make it a bit easier to manage those costs.
@Zander
I used COBRA when I was on LTD. It was pricey, but the LTD payments helped cover the premiums until I found a cheaper plan.
It’s worth noting that LTD insurance doesn’t directly pay for health expenses. It’s purely income replacement, but that income can be used for anything you need, including healthcare.
Hadi said:
It’s worth noting that LTD insurance doesn’t directly pay for health expenses. It’s purely income replacement, but that income can be used for anything you need, including healthcare.
Yeah, that’s why it’s important to have both LTD and health insurance. They work together to keep you covered financially and medically during tough times.
Does anyone know if LTD insurance covers any specific medical-related costs directly?
Payton said:
Does anyone know if LTD insurance covers any specific medical-related costs directly?
No, it doesn’t cover medical costs directly. LTD is only there to provide income replacement. For medical expenses, you’d still need health insurance.
@Parker
Exactly. It’s more about financial stability, so you can afford things like insurance premiums and out-of-pocket costs if your income takes a hit.
If you’re disabled long-term and lose your health insurance, can LTD payments be counted as income for Medicaid eligibility?
Dru said:
If you’re disabled long-term and lose your health insurance, can LTD payments be counted as income for Medicaid eligibility?
I think it depends on your state. Some states might count LTD payments as income, but it’s best to check with Medicaid directly.
What happens if you don’t have LTD and lose your health insurance after becoming disabled?
Aella said:
What happens if you don’t have LTD and lose your health insurance after becoming disabled?
You’d have to rely on savings, family help, or programs like Medicaid or marketplace subsidies. It’s a tough situation without LTD to support you.
@Vesper
That’s why LTD is important. It acts as a safety net so you’re not completely out of options financially if you become disabled.