Tell me what you think. Hypothetical only>>>Just thinking out loud! LOL
1. Min. LTD benefit = $150.00/month.
2. Not approved for SSDI.
3. LTD is offset by SSDI dollar for dollar.
4. LTD before SSDI approval = $1500/month
5. Received LTD for 2 years - $1500 x 24 = $36,000
6. Approved for SSDI @ $1500/month
7. SSDI = LTD, therefore LTD = min monthly ($150.00/month)
8. Payment start date for SSDI = LTD start date.
Question? Do you owe back LTD $1500 x 24 = $36,000. It seems to me if you had to pay this amount back, LTD would not even be paying you the min amount. Should not the overpayment (2 years) be ($1500 - $150) x 24 months = $32,400. That leaves you with $3600. Now, your LTD carrier credits your lawyer's fee of $6K. Final breakdown
LTD carrier gets $32,400 - $6K = $26,400
Lawyer gets $6,000
You retain $3600
$26,400 + $6,000 + $3600 = $36,000.
Unless you don't have a min LTD amount, you should retain a small amount of the backpay. Am I right or wrong?