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LTD Insurance Explained
Manage episode 464043655 series 3446485
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In this podcast episode, CA Nick Kastanes, Chair of the Retirement and Insurance Committee and ALPA Benefits Specialist, Retirement and Insurance Department Michelle Fredenrich discuss the intricacies of long-term disability (LTD) benefits for Frontier pilots.
Key topics include different LTD coverage options, the 90-day elimination period before benefits start, filling the gap with short-term disability, and other state programs.
The conversation covers the core LTD plan and the implications of imputed income, as well as the specifics of LTD buy-up options, which extend coverage and increase maximum monthly benefits.
They emphasize the importance of understanding the 'own occupation' and 'any occupation' definitions within the policy, detailing their effects on benefit eligibility and potential income offsets. Additionally, they discuss the return-to-work incentives and the impact of pre-disability earnings on benefit calculations.
Recent LTD statistics are reviewed, revealing the reasons for claim closures and underscoring that no pilots have been removed due to high-income potential in alternate occupations. The episode concludes with a discussion on proposed contract improvements and the ongoing efforts by ALPA to enhance pilots' benefit packages.
Hosted by Captain Jason DuVernay
24 episodes
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