Short-Term Disability
The Short-Term Disability plan provides you with continuing income if you have a medically-certified health condition and are unable to perform your job duties. NYLife is our Short-Term Disability provider.
There is a 7 day waiting period for eligibility of benefits and the employee must exhaust their medical leave accruals before they will receive payment under the Short-Term Disability Plan.
The amount of Short-Term Disability benefit that you receive is based on your election of a weekly benefit, but can not exceed 70% of your basic weekly salary or $1,000 per week. There are two options available regarding the weekly income benefit.
You can begin receiving Short-Term Disability benefits once your accrued medical leave has been exhausted, and a completed claim form has been received and approved by NYLife.
For pregnancy, Short-Term Disability is limited to 6 weeks for a normal delivery and 8 weeks for a cesarean.
View NYLife Short-Term Disability Insurance Certificate
Monthly Premiums
The premiums for the STD plan are based on your salary.
- 70% Plan - Monthly Salary/100 x .336
- 50% Plan - Monthly Salary/100 x .235
The cost for purchasing this Short Term Disability Insurance is based on the level of coverage you select:
- 70% Plan
The coverage level you select may not exceed 70% of the amount of your gross weekly pay or $1,000 per week.
Example: If an employee makes $35,000 a year or $2,916.67 monthly, the cost for the 70% plan benefit with a $1,000 weekly maximum, would be $9.80 per month or $4.90 per paycheck.
- 50% Plan
The coverage level you select may not exceed 50% of the amount of your gross weekly pay or $1,000 per week.
Example: If an employee makes $35,000 a year or $2,916.67 monthly, the cost for the 50% plan benefit with a $1,000 weekly maximum, would be $6.86 per month or $3.43 per paycheck.
Short-Term Disability FAQ
- How much will my weekly benefit be?
You have a choice of several different weekly benefit options. However, the maximum benefit payment you select can not exceed 70% of the employee's basic weekly earnings or $1,000 per week. Your premium is based on your salary.
- Is there a waiting period before benefits are paid? And what is the maximum amount of time that benefits can be paid?
If the disability is caused by accidental injury there is no waiting period. If the disability is caused by sickness then there is a 7 day waiting period before benefits will be paid. The maximum number of weeks in which benefits can be paid is 13 weeks.