Loss of medical insurance

[Dani ragazza]

What are your thoughts on loss of medical insurance for career pilots?
i learned that loss of medical is necessarily covered by long term disability and began thinking how financially devastating it would be to lose my 1st medical because of an non correctable eyesight problem or need for disqualifying medication.
I’m in the process of applying to regionals and these are things that are starting to hit home.
I saw some insurance companies that offer this kind of insurance and I’m wondering how many people take out these policies or do airline unions offer protection. What’s the norm?

 

[Morgan3820]

My Flight Instructor has it. He also flies for NetJets. The sooner you start it the lower the premiums. Kind of like long-term disability insurance. I also know of surgeons who carry a similar kind of insurance in case they lose their ability to perform surgery. I guess it all depends on how good you feel your back up plan is if you were a pilot and also a licensed electrician you’re probably pretty good.

 

[Let'sgoflying!]

I have seen “own occupation disability insurance”, I think that might be what you want.
(‘Plain’ DI may only pay out if you can’t do any kind of work.)

 

[hindsight2020]

Airlines offer coverage as part of their long term disability LTD. There's additional policies offered for gap that are optional for additional cost. The degree of LTD policy largesse is usually corelating to what kind of airline you're working for. Some are really decent, some are pretty bad. Caveat emptor.

For me, the bigger fear would be a loss of class I bumping me out of BasicMed, since I intend to fly recreationally after military retirement.

 

[WingmanMed]

It is hard to get own occupation insurance for flying it if isn't your occupation. Disability insurance also gets a little testy if you could qualify for the medical, but aren't willing to pay for the FAA requirements (which aren't always covered by health insurance). This puts some people, particularly part 91 professional pilots, in a weird spot because they don't have union protection.

 

[Stewartb]

Health insurance is easy to get on your own, but I haven’t kept up with enrollment dates. What it costs depends on your income. I encourage my employees to get their own insurance and provide a reimbursement. It covers all cost for some and partial cost for others. In all cases it’s cheaper per person than me buying a group policy.

 

[douglas393]

Not familiar with the way the airline industry offers disability insurance which is what I think you are talking about. In my profession, different companies offer different options: from no provided coverage(ie. you are on your own) to fairly substantial policies(ie. your covered for a significant portion of your salary for almost anything). Thus, your decision as to what you need to cover you would depend on what is offered. That being said, the companies that offer these policies tend to make the homeowner insurance companies and health insurance companies look like rank amateurs in their search for ways to deny coverage when it comes time to pay.

 

[Tools]

Look CAREFULLY at what unions offer. It’s NOT comprehensive and reliable.

Loss of medical, especially given its governing body, is a real threat. Non medical standards govern your keeping it, so normal medical standards cannot be used to insure it. Read the fine print and caveats. Realize non medical professionals will decide your categorization and applicability. And there is NO practical recourse.

Your best bet is to seek coverage OUTSIDE the airline community, whatever that looks like…

 

[hindsight2020]

Not familiar with the way the airline industry offers disability insurance which is what I think you are talking about. In my profession, different companies offer different options: from no provided coverage(ie. you are on your own) to fairly substantial policies(ie. your covered for a significant portion of your salary for almost anything). Thus, your decision as to what you need to cover you would depend on what is offered. That being said, the companies that offer these policies tend to make the homeowner insurance companies and health insurance companies look like rank amateurs in their search for ways to deny coverage when it comes time to pay.

I haven't heard of LTD policies at the major airlines denying anyone gratuitously the way it's common for rank and file private health insurance in corporate captured america. it stands to reason they wouldn't, the cases are binary. You either can hold a class I or you can't. In the latter case, you are covered by the LTD policy, period. I've had several coworkers on the mil side lose their medical on the FAA side and the airline LTD (United is the anecdote I'm familiar with) came through in the clutch without issue. the differences are in what the different airlines and their pilot group have negotiated. That's where one needs to research what employer one wants to marry (given the non-portability of seniority in that occupation). Not all airlines are created equal wrt LTD. Some are pretty bad compared to their similar-paying peers.

I think people are conflating the airlines CBA negotiated LTD and STD policies, with that of "gap" or additional loss of license insurance offered externally by the union. Those are optional, but not the primary payer in case of loss of medical in any event.

 

[Mikey52]

Then the airlines insurer make you try to get ss disability so the insurers can reduce their payment. It's a full time job trying to collect sometimes.

 

[Plano Pilot]

You might look at Guardian. Our company used to have its LTD through them and it covered me, their only pilot, if I was no longer able to work in my current job because of a medical condition. It would pay 60% of my salary until age 67. Not great but better than nothing.

Our company recently changed its LTD to United Health Care, and it only talks about being able to work. Since I am getting close to retirement it is a disappointment but not as big of a deal as when I started at age 44.