As some of you may remember, I was diagnosed with probable multiple sclerosis last fall. I do not completely fit the diagnostic criteria at this time, but my doctor says that with the constellation of signs and symptoms that I do have, there is about a 90% probability that I will fit them in the future.
I currently have disability insurance through my job, but of course there is no guarantee that I will be in this job forever, or that the next one will provide DI as a benefit.
Can I / should I get a private policy? Will anyone be willing to underwrite it at this point? Can I get just supplemental coverage? My understanding is that if I get coverage (and pay for it) privately, the benefits are not taxable, but that employer-provided benefits are taxable. (I asked some questions here about avoiding these taxes last year, but after reviewing the relevant IRS regulations, I don’t think I can avoid the taxes unless I can convince HR to change the DI plan, which is not likely to happen.) Is there such a thing as “supplemental” coverage that provides the same level of benefits as what I have now, so I can enjoy the tax advantages?
Will it matter that I don’t have a formal diagnosis yet in pricing the insurance?
How does one go about finding an insurer for this sort of thing? My renters’ insurance and car insurance are through State Farm, and I have a State Farm insurance agent, but I don’t know if they sell disability insurance in Washington state.
What’s the difference between disability and long-term care insurance?
(Mods - it was a tossup for me on whether this should go in GQ or IMHO, but it seemed like there were enough fact questions for GQ to be the best bet, even though I ultimately want “advice”. Sorry if I made the wrong call.)