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Do I Lose My Disability Insurance If My Job Is Terminated?

You may eventually lose your insurance if your job is terminated. There are several types of insurance coverage that an employer may provide to its employees. They may include short and long term disability, health benefits, and life insurance.

The purpose of short term and long term disability insurance is to provide a benefit payment in the event you become unable to work due to injury or sickness. Typically, short term disability pays for 24 weeks of benefits. Long term disability, however, can potentially pay benefits up to retirement age. Under both policies, in order to receive payments the insurance company must determine you are disabled from working.

Health benefits cover all sorts of services. They typically include doctor’s visits, inpatient and outpatient hospital care, pregnancy and childbirth, mental health services, prescription drug coverage, and more.

Life insurance coverage is provided so that a death benefit is paid out in the event the insured person dies. The purpose of this insurance is to protect your loved ones once you have passed.

ERISA governs group insurance benefits including disability, health, and life. Employees are covered under group policies, meaning the insurance is tied to their employment status. For this reason, if you are terminated you could lose one or all of your insurance. If you become disabled before you are terminated, however, your insurance coverage may still stay in place if you meet certain definitions under each policy.

It is important to consult an attorney if you are thinking about going on disability. Our experienced attorneys can help protect your rights under your employer’s insurance policies even if you are eventually terminated by your employer.

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