NHMike, are you allowed to do this?NHMike wrote:But I'm going to up my LTD to 66% from 50% this enrollment season.
margiej wrote:Do others have this problem? I feel like my cancer treatment and, potentially, my life are dictated by insurance companies.
Utwo wrote:NHMike, are you allowed to do this?NHMike wrote:But I'm going to up my LTD to 66% from 50% this enrollment season.
Have you studied the fine print?
NHMike wrote:Utwo wrote:NHMike, are you allowed to do this?NHMike wrote:But I'm going to up my LTD to 66% from 50% this enrollment season.
Have you studied the fine print?
Yes, we’ve always had the option to select 50% or 66% LTD coverage. One of my coworkers out on LTD is at the 66% level.
cbsmith wrote:
Mike, I think she was referring to are you able to change it when you have an existing condition that may require you to use LTD. At my work we can choose between 55% or 66% but if you increase to the higher level you cannot use the higher level fro 12 months. So if I increased it on Jan 1, 2019 and went out on LTD in August I would only get the 55% I had before. I would need to work until Jan 1,2020 to get the 66%. They do it to prevent people from keeping the cost down by picking the lower option and then increasing it when they are getting sick or think they may need to use it. And I believe that once you go to 66% on our plan you can’t go back down.
I always had the 66% from when I started working there as the cost wasn’t much more. And I’m glad I’ve had it because I have been on LTD for a month shy of 3 years so far.
NHMike wrote:I will have to check. Open enrollment starts Monday and I’ll select 66% anyways as the price difference is small. I probably should have changed it last year. I didn’t expect the post reversal period to be so difficult.
susie0915 wrote:Insurance is the reason my husband will not be retiring early. Unless you are a public school teacher or work for one of the auto companies and are grandfathered, no insurance is provided to retirees unless you qualify for medicare. We could retire easily but the insurance is what holds us back. Hopefully, he can continue to work until he is 65 and we can qualify for medicare. It is very scary, especially when companies are always downsizing.
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