Social Security, SSD, or Layoff?

SamCec · #1 (**permalink**) 10-03-2009, 01:21 PM

I am trying to find what's best for my wife and the income of our family. I am retired and get Social Security and a Pension.

My wife is 62, her birthday is February 9th. She has an illness that would qualify her for SSD. She cut her work hours down from 40 to 24 per week. The only reason she is still working is because of the medical insurance. She works for a company that pays 100% of the premium for medical insurance not only for her but for me (husband) as well. As you know, this is a very rare situation.

I also have serious medical problems (cancer and pulmonary fibrosis). We both see many specialist. Because of her insurance that covers me, her insurance is considered my primary and medicare is secondary.

This is our dilemma: She wants to try and keep her job until 2/9/2010 when she turns 63. She can not get medicare. Would it be better for her to go for straight Social Security or Social Security Disability or she may be able to take a layoff? What are the pros and cons?

In any case, we will need to get Health Insurance for her and a "supplement" insurance for me because Medicare would then become my primary.

Thanks for your help,
Sam

sapphirecapital · #2 (**permalink**) 10-03-2009, 05:10 PM

it takes a while to get through SSD, start the process but look at a 2 to 3 years, mostly you get denied the first time, takes about 6 month, than you have 60 days to ask for the second opinion, which is usually another 3 to 4 month and a denial, than the 3rd time is usually the one where they can make decisions which combines different disabilities, whereas in the first and second you can only qualify if one disability is already enough to qualify. you may need a lawyer, it all depends how far the possiilities gofor your wife, I would also look into what the copany provides for early retirement etc

SamCec · #3 (**permalink**) 10-04-2009, 08:23 AM

Quote:

Originally Posted by sapphirecapital

it takes a while to get through SSD, start the process but look at a 2 to 3 years, mostly you get denied the first time, takes about 6 month, than you have 60 days to ask for the second opinion, which is usually another 3 to 4 month and a denial, than the 3rd time is usually the one where they can make decisions which combines different disabilities, whereas in the first and second you can only qualify if one disability is already enough to qualify. you may need a lawyer, it all depends how far the possiilities gofor your wife, I would also look into what the copany provides for early retirement etc

Thank you for your feedback. Sorry to say, I personally have experience with SSD. I know it takes awhile but I have already decided (and I have talked to a lawyer) that if we go the SSD route, we will get an SSD lawyer. The lawyer did say she would be able to get SSD retro-active back to the time she would leave work.

Sam

sapphirecapital · #4 (**permalink**) 10-04-2009, 11:02 PM

first the lawyer is paid by the social security when you get the SSD, second it goes back to the date of the disability, maybe you should combine with a workmens comp case, but make sure your lawyer has plenty of experience and does something, the in between time can be murderous! Like that guy in Congress said: They want you to die first

SamCec · #5 (**permalink**) 10-05-2009, 08:31 AM

Quote:

Originally Posted by sapphirecapital

first the lawyer is paid by the social security when you get the SSD, second it goes back to the date of the disability, maybe you should combine with a workmens comp case, but make sure your lawyer has plenty of experience and does something, the in between time can be murderous! Like that guy in Congress said: They want you to die first

Sorry for the delay in getting back to you. For some reason I am not getting e-mail notification of replies. I do have "instant e-mail notification" set.

I do have a good and experienced lawyer but I would like to go back to my original question: Taking into consideration the monies and the Health Insurance, what would be the best way for her to go--Regular Social Security (remember she will be 63), Social Security Disability, or take a layoff status if she can get it?

One of my questions: Financially, if she was to go on "layoff status", she can collect unemployment for 6 months(?) and the cobra law for health insurance would cut the cost down to 35% of it's cost. While on layoff, does Social Security still build? Example: lets assume she is 63 and layoff status is 6 months. AT the end of 6 months and she goes on SS, is the SS pay equal to what she would get at 63 or 63-1/2?

Sam

sapphirecapital · #6 (**permalink**) 10-06-2009, 02:13 AM

depends where you are; if she is laid off she can get unemployment probably for 18 month, than she may go for disability, first state disability which is usually around 1 year, that could bring ou already to the point, cobra will only work for the unemployment, then there is an extension, but could be Obama's pla or something similar kicks in, it is a gamble, plan carefully

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