Short-Term Disability (STD)

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Short-Term Disability (STD)

Injuries at your place of work will be covered by workman’s compensation but what happens if you have an employee that is suddenly injured off the job? The first thing they will want to know is if they’ll have income while off the job. This is when a short term disability program is able to help.

Short term disability is a type of insurance that pays a percentage of an employee’s salary for a specified amount of time, if they are ill or injured, and cannot perform the duties of their job. Coverage usually starts any-where from one to 14 days after your employee suffer a condition that leaves them unable to work.

Many times, employees will need to use sick days before their short term disability kicks in especially if it’s an illness that keeps them out of work for an extended period of time. This is why there is usually a different policy for short term disability for sickness versus an injury.

Short-Term Disability (STD) insurance also pays a percentage of your salary if you become temporarily disabled (i.e. maternity leave), which means that you are not able to work for a short period of time due to sickness or injury not related to your job. Typically, an STD policy provides you with 40 to 70 percent of your pre-disability base salary.

FAQ'S

What is Short-Term Disability?

This is also known as paycheck insurance (income replacement) which provides coverage in the event of an illness and/or an injury. This is a weekly benefit.

How long does a Short-Term Disability policy last?

It depends on the employer plan design and state regulations. Typically, Short-Term Disability benefit periods last for 13 weeks (91 days).

How much does Short-Term Disability coverage cost?

Short-Term Disability premiums are based on employee salary information, the duration of coverage, the maximum weekly benefits and the employer industry.

I plan on having a medical procedure that will require some time out of work. What is the waiting period before benefits begin?

The waiting period for Short-Term Disability benefits is the time period a person must wait to receive benefits upon the onset of the illness/accident. Depending on the plan design, benefits typically become active on the 8th day or the 14th day of the illness or injury.

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Short-Term Disability (STD)