Short-Term and Long-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 or up to $500) allowed 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.

Long-Term Disability Insurance (LTD) 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 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 benefit amount ($100 to $1150 in $50 increments) allowed so employees cannot earn more on disability than they could if they returned to work.

The pre-existing condition clause is waived for short term and long-term disability insurance products for groups with two or more enrolled employees. One-person groups who elect to apply for short-term disability insurance will have a pre-existing condition clause incorporated into their policy.

Employees are strongly encouraged to enroll at the implementation of the short-term and long-term disability policies. Enrollment at the onset ensures guaranteed acceptance with no medical questionnaires. If an employee elects to enroll at a later date, they will be subject to an extensive medical questionnaire and in some cases, a physical exam.

The short-term and long-term disability insurance products offered by MDSIS-Spring are voluntary products, and therefore employees have the option to enroll. The voluntary nature of these products allow the insurance premium to be paid for in a variety of ways, unlike health insurance, which requires employers to pay a minimum of the premium.

Call MDSIS-Spring today and find out how easy it is to get the coverage you need.

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