Group Disability Insurance
Short Term Disability & Long Term Disability
Protect Your Employees with Disability Insurance
Disability income insurance ensures that eligible employees will receive a percentage of their income in the event that they are unable to work due to an illness, injury, or accident. This is usually included in group plans as short-term and long-term disability coverage. There are several different disability benefits plans and requirements for each type, and they can be employer-sponsored or paid 100% by the employees.
If you have at least 15 employees, BIS Benefits can help you avoid the headache and stress of being financially unprepared if an employee experiences one of these hardships. Allow our benefits brokers to explore the many different disability options you can offer your staff.
Short-Term Disability (STD)
Short-term disability insurance policies provide essential financial assistance to employees facing temporary non-work-related health issues. It typically covers approximately 60-70% of their pre-disability earnings for a specific duration. To qualify, employees need to provide medical documentation confirming their disability, with benefits often beginning after a waiting period, typically 7-14 days.
As an employer, you have the option to offer short-term disability through private insurance or as part of your group benefits plan. Common employee claims include injuries, surgeries, pregnancy-related complications, or short-term illnesses. It's crucial to understand that STD serves as a valuable safety net that helps your employees maintain essential living expenses during temporary health setbacks and contributes to their well-being and productivity. Carefully reviewing the specific terms and conditions of your chosen STD coverage is vital to make an informed decision that benefits both your employees and your organization.
Long-Term Disability (LTD)
Long-term disability insurance (LTD) is a valuable employee benefit that provides financial security during extended periods of inability to work due to illness, injury, or chronic conditions. It typically replaces a substantial portion of an employee's income, often amounting to 50-70%, ensuring their quality of life remains intact when they can't work for months or even years. If offered, long-term disability will kick in once the short-term disability insurance runs out.
By offering this coverage, employers demonstrate their dedication to their employees' well-being, creating a vital safety net for unforeseen health challenges. Additionally, LTD insurance can boost employee retention and morale, reassuring them that their financial stability is preserved during extended periods of disability. It's crucial to carefully review the terms and options within LTD policies to customize coverage that aligns with both your employees' needs and your organizational objectives.
Employers can also enjoy tax advantages by providing LTD. Group LTD coverage premiums are often tax-deductible, offering a cost-effective means of supporting your workforce. Additionally, furnishing comprehensive benefits like LTD can give your company a competitive edge in attracting and retaining top talent, bolstering your reputation and long-term success.
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Our Carriers
We quote all the top-rated carriers in Georgia, including
Humana,
Anthem,
Blue Cross,
Aetna,
United Health Care,
Oscar,
Renaissance,
Cigna,
Kaiser,
Principal,
Guardian,
EMI, and more.
Where We Work
BIS Benefits works with companies all around the state of Georgia, including the following cities:
FAQs
What types of conditions do short and long-term disability cover?
Short-term disability provides temporary coverage for situations such as surgery and post-operative recovery, pregnancy and childbirth, acute physical and mental illness, and off-the-job injuries. Long-term disability covers disabling injuries or illnesses that make it difficult or impossible to work for a longer period of time, such as stroke, cancer, or heart disease.
What is the difference between short-term disability and sick leave?
Sick leave is paid time off provided by an employer and is typically used for minor illnesses and injuries or routine medical care. It typically ranges from a few days to 2 weeks. Short-term disability is a wage replacement benefit that is used when a serious condition keeps you out of work for a longer period, often between six and 26 weeks.
How long does long-term disability insurance last?
In the United States, the length of long-term disability insurance can depend on the specific policy and local regulations. It typically lasts between two years and several decades, with some lasting until retirement.
What is an elimination period?
Also called a waiting period, an elimination period is the amount of time an employee must be disabled before becoming eligible for disability benefits. For short-term disability, seven to 14 days is typical. For a long-term disability claim, this period is often between 90 and 180 days, often beginning after short-term disability runs out.
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