Health/disability etc...

[reborneth]

I'll be 62 years old this year. I work at a radio station doing books and traffic. This last 2 years my health has gotten crazy. Started with my home burning and we lost everything, no insurance due to age of trailer and distance to fire dept etc...while trying to clean the site I hurt myself getting in a dump trailer which led to DVT'S in my legs, doc put me on blood thinners and six months later said I was good to stop them, then about 2 months later. I had trouble breathing and ER found clotting in both my lungs with chronic heart failure because of the clotting. Back to thinners...he said it should clear up and I was feeling much better then sick again, back to ER and my blood sugar was 31....now on diabetic meds excersize etc... and sugars down to normal range. Now doc finds high blood pressure (this morning 164/96).

As you can see my health is bad so, do I go off on long term disability? I had no role models or advisors and am completly financially illiterate (was part of 60s scoop and raised in convent) what other programs should I look into now. I have the disability tax credit but don't know if any other things I should apply for. I truly hope you can help.

 

[nurotolover3833]

@reborneth 1st question.. does your doctor support you retiring for medical reasons? They will have to in order to get any benefits.

CPP Disability but it’s a long process

Long term disability from your employer plan if you have it.

 

[reborneth]

@nurotolover3833 Yes doctor suggested it but I said I wanted to see how I felt in a few months but that was before I found out about high blood pressure. I also need both knees replaced but they put that off now. I do have an excellent employer long term disability plan. Do I go off on that first before CPP Disability?

 

[perry2]

@reborneth You need to go on EI first, then after the 15 weeks of medical leave you can start your long term disability. Your insurance company may make you apply for CPP Disability as well. If they do its not as long a process as the other poster made it out to be. I applied online and had my approval in a month.

Just so you know, anything you get from CPP Disability will be deducted from your LTD, so you get the same money, just from two sources. Also, if your employer paid your LTD premiums, then what you receive is taxable, and the insurance company will not take taxes off, so that can hurt you come tax time. ( I saw a post here from someone who had to pay $3,000 in income tax because of this) If you fall into this category see if you can get some free advice from a financial advisor to help mitigate your tax implications. If you paid the LTD premiums then your benefit is not taxable and you do not claim it on your income tax. CPP Disability is taxable, and the government will deduct taxes from each payment and you claim it on your income tax.

Also of note, both LTD and CPP Disability only pay until you turn 65.

 

[audmanout]

@perry2 But it just switches over to old age pension kind of no difference. There are horror stories of people getting less when that happens back and they get the other old age pension coming to.

 

[perry2]

@audmanout Yes, the regular CPP is less, and the OAS also kicks in That's why it's important to meet with a financial advisor to get a clear picture of what to expect.

 

[nurotolover3833]

@perry2 Don’t forget about GIS- Guaranteed Income Supplement

Also, it’s important to apply for CPP disability because it’s based on earnings & contributions

So once you stop working, you want your get the proper “credit” for your CPP payments at age 65.

 

[audmanout]

@reborneth You only get the amount for CPP from what you pay into it so if you don’t pay and do it, you get nothing if you have a disability from your employer absolutely stay on that because it’s going to be well. You’re going to get refused CPP right off the bat. That’s their job to weed out Scammers some people who fight for 10 years and get a lawyer some people get it on the first appeal and don’t get it at all because they were a homemaker and didn’t pay into it even if they have a terminal illness they get nothing. Your doctor and he’s gonna be a big factor of his a lot of paperwork to fill out and he probably will probably have to pay. I’m usually not a lot but but you know I’ve heard horror stories of people that are in wheelchairs and they CPP still won’t give them disability but if you get a lawyer and you open your claim and dispute it one thing, I love about taxes and shit it’s retroactive, so when you do win and the fact that you should have a lawyer, after all the time means that you will because they would drop you leave you don’t get paid until we get paid. Yeah I’m not gonna take a case until they know it’s a slam dunk, but yeah, sometimes take it. It’s all up to the guy sitting in ait at a desk I mean I’ve heard stories about MSI.

So you do have private insurance through your employer, like Sun Life or like if you have private insurance, you should be able to retire, get a pension from them and and that’s the whole point cause would’ve paid into them all the years that’s how insurance works but private insurance is so much better. It’s just great. Making a little stingy after retirement like my fathers in private insurance took a mighty big dip after he retired too early, but I think everybody’s did, but they do pay certain things that the government would never even think of. Check your paystub’s and your tax returns and see how much you are paying every paycheque into your own private insurance and how much he’s going to CPP because everybody gets money taken off their check because that’s what people get. Yeah I from that’s what people get disability from social assistance. People grumble and complain that they’re taking their money and giving it to poor people, but here’s a thing this is how society works we pay taxes and trust me if you fall down and break your neck or whatever you can’t move you’re gonna be some lucky to have that other peoples paycheques have been garnished and put in especially a big pot and everybody has to take a bite as one day we all will not thank all tax payers.

Know if you have only have like a retirement plan and you only have a couple more years to go you might want to think about sticking it out. I know somebody who did that who work for the school board and yeah it wasn’t fun I don’t think for cruciate it, but Holding off you know stopping or quitting because you know you’re so sick it’s all up to the individual and what kind of plans they have in security and your doctor should tell you if you have a good chance or not for CPP because they’re hard to get lots of paperwork lotta terminologies Almost like it’s almost like they are screwing with you if you are denied by that even or your private insurance write a private letter because they all have appeals process and take your time on that letter and make sure you mention everything because you probably well you may be surprised on your first appeal. You’ll be granted CPP. I’m not a banker or a tax specialist out. Don’t take this as fact definitely get as much information and researching as you can which I know is really hard when you’re sick.

.

 

[reborneth]

@audmanout Thank you for your time and advice. I have paid into cpp all my life as well as Into my works plan. I'm going to see my doctor next week. He is awesome and has been my doctor for 30 years and said he thinks I should go on long term. I may do that. Again thank you for your reply I appreciate it!