Negotiating Buyout of Your Long-Term Disability Benefits. Your Best Option?
The federal ERISA statute (Employee Retirement Income Security Act) is a complicated law that governs employer-provided disability benefits. Unfortunately, over the years since it was enacted, its interpretation has become increasingly favorable to insurance companies. The result is that it can be incredibly difficult to obtain benefits. The most likely way that you will receive the disability income that you need is through a buyout negotiated with your insurer.
If you have been denied benefits under your employer-provided disability plan, contact our San Francisco long-term disability buyout attorney at the Law Office of P. Randall Noah with experience in this complex area of law. It is difficult to reach a fair buyout agreement on your own. You should know your options before negotiating.Insurance Benefit Negotiation Attorney Located In California
When your long-term employee benefits have been denied, you have the option of filing a federal ERISA lawsuit for reinstatement, where you are often required to mediate and attempt settlement of your claim. If mediation and negotiation fail, you can appeal, but the judge can only reinstate your benefits.
Once reinstated, your insurance company still has the right to continue denying benefits. During litigation, a negotiated long-term disability buyout is often the solution. The principle behind a buyout is best illustrated by example. If your company owes you $200,000 over the course of 10 years, but has denied your claim, you could in some circumstances reach an agreement to buyout your benefits for $100,000 upfront — to the benefit of all sides.
The purpose of a long-term disability buyout is finality — to get the money and sever your relationship with your insurance company. If a buyout becomes your best option, Mr. Noah will negotiate strategically on your behalf to ensure the best possible outcome. He has the in-depth knowledge and savvy borne from experience that is necessary to reach a successful outcome in these complicated and nuanced claims.
He can also assist if your private insurance company has, in bad faith, denied insurance benefits that they are contractually obligated to pay (in non-ERISA claims),or if you have questions about offsets and overpayments regarding your federal and state insurance benefits.
Contact Us at Our Orinda and Tahoe, California, Disability Insurance Reinstatement Law Firm
Do you have questions about long-term disability buyout? Contact our Orinda or Tahoe, California, insurance benefit negotiation lawyer online or call 925-402-4529 for more information. We offer a free 30-minute consultation for certain cases. With offices in Orinda and Lake Tahoe, the Law Office of P. Randall Noah represents clients throughout Northern and Southern California and nationwide.
