Short Term Disability Insurance

Short Term Disability Insurance (STD) provides employees the means to help replace a percentage of lost income should they become totally disabled due to a non-occupational accident or sickness, including pregnancy or complications of pregnancy. A typical STD policy provides employees with a predetermined percentage of their weekly or biweekly salary for 13 or 26 weeks (after any applicable waiting period). There is usually a maximum weekly benefit (60% of pay) so employees cannot earn more on disability than they could if they returned to work. Benefits begin 1st day for accident and 8th day for sickness, or in some cases 14 days.

Long Term Disability Insurance

Long Term Disability Insurance (LTD) provides employees the means to help replace a percentage of lost income should they become disabled due to a non-occupational accident or sickness, including pregnancy or complications of pregnancy. A typical LTD policy provides employees with a predetermined percentage of their weekly or biweekly salary for two years, five years, or until retirement (after any applicable waiting period). There is usually a maximum weekly or monthly benefit amount allowed so employees cannot earn more on disability than they could if they returned to work.

In addition to these, various and specific terms and definitions to consider, such as the actual definition of disability, return to work incentive language and pre-existing condition clauses to name a few. Disability policies can be group based or individual based, and paid for entirely by the employer or with contributions (or even full pay) by the employee.

Spring helps employers wade through the options that are available to them, and determine the right type of policy, level of coverage, vendor partner(s) and coordination with other plans and policies. Our health and productivity team goes beyond plan design, product selection and funding, to crafting an effective integrated disability management, total absence management or health and productivity program. Our goals are first and foremost to provide the specific services that our employer clients need, then when desired bring all forms of workplace absence together in an integrated manner to reduce cost, increase employee satisfaction, improve employee productivity and reduce absence.

Contact us today using the form on this page to discuss how our award-winning team can help your business design and implement the right disability offering for your employees.