A: A complete claim consists of three claim forms:
The Employee Statement of Claim for Benefits form and Attending Physician’s Statement form are located (provide directions to specific location on website). The Employer’s Statement of Claim for Benefits form is located (provide directions to specific location on website). We recommend that all forms be completed in detail to allow for the prompt review of your claim for benefits.
A: Disability benefits will begin following completion of your elimination period. Benefits are not paid retroactively for the timeframe of the elimination period. Benefits are issued based on the payment frequency outlined in your Certificate of Insurance.
If benefits are paid on a monthly basis, the first payment of your claim will be scheduled to be issued one month after the end of your elimination period. (EXAMPLE: If your elimination period ends and you are benefit eligible beginning January 1st, benefits for the timeframe of January 1st up to February 1st would be scheduled to be issued February 1st.)
A: Madison National Life Insurance Company, Inc. does not provide tax advice. Please consult your own tax advisor for responses to any questions that you may have regarding your personal tax situation.
If the premiums paid for your insurance is paid by either your employer or by you pre-tax, then any benefits issued by Madison National Life are considered taxable. If the premiums are paid by you post tax, the benefits paid by Madison National Life are not taxable. If premiums are paid by both your employer and yourself post tax, your benefit will be taxable in accordance with the portion of premiums paid by your employer.
Federal taxes can be withheld by Madison National Life Insurance Company, Inc. from your benefit payment if you request Madison National Life Insurance Company, Inc. to do so. State and/or County taxes can only be withheld in specific states. In the event that these taxes can be withheld in your state, you will be notified by your claim specialist. Taxes can be withheld upon receipt of your written request. Your request must include either a specific dollar amount or percentage of your benefit which you would like to have withheld.
If benefits are taxable, forms required for filing taxes will be issued to you by Madison National Life Insurance Company, Inc. by January 31st of each year.
The information contained above is being provided in an effort to answer some of the questions that may arise when filing an application for benefits. This FAQ is a summary only and is not part of the entire contract. If you have additional questions, we first suggest that you refer to your Certificate of Insurance which details the exact terms of your insurance. Should you continue to have questions you may contact us at 1-800-356-9601 extension 2410. Claim specific questions cannot be answered until your application for benefits has been received and your claim has gone through our standard billing and eligibility verification process.
Not all products, benefits and services are available in each state.