Other Free Encyclopedias » Medicine Encyclopedia » Aging Healthy - Part 1 » Disability: Economic Costs and Insurance Protection - The Economics Of Disability, Work Withdrawal By Older Disabled Workers, Disability Insurance: General Policy Features

Disability: Economic Costs and Insurance Protection - Employer-provided Disability Benefits

social term sick accounts policies

These programs can be divided into those which address short-term disability and long-term disability. Short-term disability coverage is most often paid sick leave. Although sick leave is a benefit widely offered by U.S. employers, duration of benefits is limited to the accumulated sick days. Some firms offer sickness and accident insurance, typically with a service requirement for eligibility.

Long-term disability coverage may be provided through separate disability policies or by provisions in an employer-sponsored pension plan. The Employee Benefit Research Institute (www.ebri.org) estimates that about one-third of U.S. workers are covered by long-term disability policies other than Social Security. This percentage has actually declined, as has the percentage of persons who are covered by pension plans that offer a disability benefit.

While these accounts are not necessarily linked to employment, early withdrawals without income tax penalty from Individual Retirement Accounts and 401(k) and 403(b) accounts are allowed when due to disability.

Disability: Economic Costs and Insurance Protection - Health Care Cost Coverage [next] [back] Disability: Economic Costs and Insurance Protection - Social Security Disability Insurance Benefits

User Comments

The following comments are not guaranteed to be that of a trained medical professional. Please consult your physician for advice.

Your email address will be altered so spam harvesting bots can't read it easily.
Hide my email completely instead?

Cancel or