I went off work on a long term disability 2006. After a 6 month waiting period, the LTD insurance paid monthly amount. Recently I was approved for Social Security disability & received back pay retroactively to same month that LTD began. My current SS disability amount is more than the LTD disability amount. Do I have to pay the LTD back at 100%? In this situation, who notifies the LTD company that SS was approved & how should all of this be handled? If it has to be paid back, how long does one have to do that & what happens if you don't have enough to pay it all back? Is it necessary to get an attorney for this type of situation? While working, my check stub showed a deduction amount being taken out for "LTD". Is the LTD company required to give me a copy of the LTD policy for review?
Above I stated the SS disability is *more* than the LTD was so the LTD would go away completely... there wouldn't be an "offset" between SS & LTD. Does anyone have the answers to unanswered questions above? - How long does one have to pay them back? What happens if you don't have enough to pay it all back? Is it necessary to get an attorney for this type of situation? Is the LTD company *required* to give me a copy of the LTD policy for review? And a new question: What happens to all the money that was taken out of my payroll check when I was still working that paid for the Long Term Disability insurance?
Workers' Compensation Lawyer
The amount of the offset will depend upon your LTD policy. You should not spend the retroactive SS benefit until you get this information resolved. There is likely an overpayment division for your LTD company that can calculate the amount of the offset once you receive your Notice of Award from SSA. The amount of your future LTD benefits may also be offset, depending on the policy.
The first step would be to get a copy of the policy. They should not have a problem with giving you a copy, particularly if you don't turn over the money until they give you a copy.
If the LTD policy states that there is an offset, it is your responsibility to notify the LTD carrier of your SS benefitss.