More Disabled Employees But Fewer Employees Covered With Long Term Disability Coverage

Here is a recent news item showing the scope of the employee disability problem.

In a nutshell:

There are more disabled employees than ever.  As of May 2014, the total number of Social Security disability beneficiaries in the United States hit an all-time high of about 11 million beneficiaries.

But fewer employees are covered with long term disability coverage.  The number of U.S. workers with long-term disability coverage decreased 6% from 2009-2013.

From 2009-2013:

  • fewer employers are offering long term disability coverage: down from 220,000 to 214,000
  • fewer employees have long term disability coverage: down from 34 million  to 32.1 million
  • more total number of employees in the U.S. workforce: up 6.6 million

An excellent article out of the July 17, 2014 Portland Press Herald summarizes the issue.  http://www.pressherald.com/2014/07/17/employers-dropping-long-term-disability-coverage/

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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