$245,340. That's the magic number for how much it will cost a middle-income American family, on average, to raise a child born in 2013 until he or she becomes an adult.And families living in the Northeast will be taking on a greater burden, according to a report out Monday.dvertisement. $245,340. That's the magic number for how much it will cost a middle-income American family, on average, to raise a child born in 2013 until he or she becomes an adult. And families living in the Northeast will be taking on a greater burden, according to a report out Monday.
Additionally, payments to the employee from their employer's long-term disability insurance are taxable income whereas payments from an employee purchased plan are usually not. Long-term disability insurance (LTD) begins to assist the employee when short-term disability insurance (STD) benefits end. Once the employee's short-term disability insurance benefits expire (generally after three to six months), the long-term disability insurance pays an employee a percentage of their salary, typically 50-70%.
Employer-sponsored group disability insurance. If you are enrolled in a group disability insurance plan sponsored by your employer, the taxability of your benefits depends on who pays the premium. If you pay the total premium using after-tax income, then your benefits will be tax free.