If your employer offers access to disability insurance, it’s crucial to find out when their open enrollment period begins. Disability insurance may also be available through a private insurer.
This critical coverage may provide financial help if you are injured or become ill and can’t work in the same capacity as you could before. Contact Regina Jasak to learn more about how to get disability coverage that works for your situation.
Disability Insurance and Healthcare Insurance
Disability insurance and healthcare insurance provide distinct types of coverage.
Disability coverage helps provide income replacement if an illness or injury prevents you from working. There are two main types of disability insurance:
· Short-term disability may provide coverage immediately following a serious injury or illness for a limited time, which is often three to six months.
· Long-term disability may provide coverage to partially replace lost income if your injury or illness prevents you from working past the time your short-term disability coverage ends.
Healthcare insurance helps cover the medical costs associated with treating your injury or illness according to your plan’s coverage. It may help cover doctor bills, diagnostic testing, surgery, hospitalization, prescription drugs, physical therapy and other doctor-ordered tests and treatments.
Both healthcare and disability insurance require regular premium payments, even if you don’t use the coverage. Talk with your agent to understand how disability and healthcare coverage can work together to provide the financial support you need if you are seriously injured or become so ill you can’t continue to work.
Healthcare Coverage for People With Disabilities
People with disabilities receiving healthcare coverage through Medicaid or Medicare are covered under current healthcare laws. If you don’t have coverage, you can shop the Marketplace for Affordable Healthcare Act (ACA)–compatible coverage during the open enrollment from November 1, 2022, through January 15, 2023.
The ACA requires marketplace insurers to provide access to plans that cover people with certain pre-existing healthcare conditions without charging more for the policy.
According to the ACA, marketplace plans must:
· Provide free preventive care
· Not impose lifetime and yearly dollar limits on coverage for essential health benefits
· Help participants understand their coverage
· Not cancel coverage due to an illness
· Protect the insured person’s choice of doctors
· Hold insurers accountable for rate increases
Contact Regina Jasak in Ludlow, Massachusetts, today to get help choosing a healthcare plan to help meet your current and future needs.
This blog is intended for informational and educational use only. It is not exhaustive and should not be construed as legal advice. Please contact your insurance professional for further information.