It may seem like only yesterday, but it’s been nearly 20 years since insurers began accepting fibromyalgia as a debilitating condition that would justify payment of long term disability benefits. But let’s not act like insurers had a sudden, altrusitic epiphany and decided to support claimants suffering from this condition. That would be revisionist history at its greatest. Instead, insurers fought tooth and nail to prove that those suffering from fibromyalgia were either making their conditions up or had psychological problems.
If you are struggling with arthritic pain, you've got lots of company.
With the federal income tax deadline passing, most people won’t think about next year’s taxes until next January. But if you anticipate receiving long term disability benefits over the next 12 months, you should think about how your 2017 tax return could be affected. Essentially, knowing what benefits are considered taxable income (as opposed to tax-free) is critical for a number of reasons.
We know long term disability policies are sold on the auspice that high-earning professionals should be covered if they can’t work anymore; but they are really sold to make the insurer money. Selling the “image” of security in tough times is one of the many things insurers may not want you to know about.
If you follow our blog or have previously dealt with long term disability insurers in the past, you already understand how getting benefits can be such a frustrating process. Yes, insurers don’t really care about your pain or inability to work, but you would expect that doctors would, right?