Short Term Supplemental Disability

Many people believe that insuring one’s income is the most important form of insurance. Selecting short term disability insurance shows your employees you care for their families should they become disabled (off the job) for a short period of time and are unable to work.

{Please note that short-term supplemental disability coverage is not a replacement for insurance required by the New York Disability Benefits Law.

Plan options

Let Benefit Specialists of NY help develop a customized formula that meets your company’s requirements.

• Benefit Percentage. Choose the percentage of one’s salary such as 60%, 66- 2/3% or 70%.
• Benefit Maximum. Choose the weekly maximum benefits-such as $500/wk, $750/wk, etc.
• Elimination Period. Choose from an array of options that let you decide when coverage begins after an accident or the onset of sickness/pregnancy.
• Duration Period. Choose 13, 26, 52 or 104 weeks. Note: Short-term supplemental disability coverage can be written to dovetail with long-term disability plans.
• Non-Contributory Plans. If the employer pays the entire cost of the plan, all eligible employees must be enrolled. If dependent coverage is included, all eligible dependents must also be enrolled.
• Contributory Plans. If the employees contribute to the cost of the plan, participation requirements apply.

Non-contributory plans are more cost effective than contributory plans. Depending on who pays the premium, benefits, when received, are either taxable or non-taxable to the employee.

This is a brief overview; exclusions apply. Please contact a Benefit Specialists of NY representative today to get additional information.