Tua Tagovailoa’s recent concussion in a game against the Bills has reignited discussions about player safety and NFL early retirement. The incident took place Thursday night and was Tagovailoa’s third concussion since being drafted to the NFL in 2020.
- First: 2022 season, Week 4 against the Cincinnati Bengals
- Second: 2022 Season, Week 16 against Green Bay Packers
- Third: 2024 Season, Week 2 against the Buffalo Bills
All things considered, the average NFL playing career is only 3.3 years making long term health concerns a serious consideration for life planning after the league.
Major questions arise when weighing the financial viability for player’s looking at NFL early retirement.
Do You Get Money from Medical Retirement?
The short answer is yes. Stipulations found in NFL contracts, the nature of the medical issue, and predetermined leage wide guidelines can alter the amount of money paid out to players in the event of an early reitrement.
NFL Retirement Financials
Player Contracts: Tagovailoa’s four-year, $212.4 million extension with the Miami Dolphins includes $167,171,000 guaranteed, providing significant financial security. A few factors to consider here are if Tua is forced to reitre for mediacal reasons, if Tua chooses to retire, or if he passes an upcoming physical with the possibility to simply be released.
NFL Severance Plan
Offers a lump-sum payment for one year after a player’s last game. Players must be eligible with a minimum of two credited seasons in the NFL.
Player Insurance Plans
Vested players (3 credited seasons) get five years of extended medical, deantal,vision, and work/life resources know as Continued Veteran (CV) coverage.
Once the CV coverage ends, players under the age fo 65 will have access to primary healthcare along with other free services through a network of NFL dedicated hospitals.
Health Reimbursement Account Plan
As of 2020, vested players can accumulate $35,000 per credited season, up to $450,000 for out-of-pocket medical expenses incurred by the player along with family members and dependents.
NFL Disability Plans
Options for vested and non-vested players needing disablilty coverage are as follows:
Line of Duty Disability (LOD): Provides support for Former Players with substantial disabling injuries as a result of NFL-football activities. Former Players with four (4) or less Credited Seasons must apply within 48 months after their last date under contract. Neurocognitive
Disability (NCD): Provides support for Former Players with mild to moderate brain impairments. Former Players with two (2) or less Credited Seasons must apply within 84 months after their last date under contract.
Total and Permanent Disability (T&P): Provides support for Former Players unable to work due to a severe and permanent disability. Former Players with two (2) or less Credited Seasons must apply within 18 months after their last date under contract.
Along with all these options there are financial resources that are available to players that aren’t specifically dependent on health or medical status. The NFL offers annunity, 401(k), pension, and capital accumulation plans to former players as well.
RELATED: UNDRAFTED FREE AGENT CONTRACTS
Do You Get Guaranteed Money if You Retire from the NFL?
Tying in with the player contract information mentioned above, the guaranteed money situation with NFL contracts can be complex.
Typically guaranteed money is paid out even if a player retires.
Some guarantees may be voided upon retirement depending on the contractual agreements. Think of Desaun Watson’s disclosure of recent assualt lawsuit or Kyler Murray’s “independent study” clause. It’s the little details that can be factored in even with player’s history of documented medical concerns.
Contracts often include specific clauses for career-ending injuries, ensuring players receive a portion of their remaining contract value.
Even with the contract clauses, teams and players often negotiate settlements for NFL early retirement due to medical concerns on a case by case basis.