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SHORT TERM DISABILITY/VOLUNTARY LONG TERM DISABILITY
by EONE
SHORT TERM DISABILITY
Benefit Details
Short Term Disability-Employer Paid
• The maximumbenefit amountis 60% of your gross weekly earnings, up to a maximum of $2,300 • The maximum benefit period is 13 weeks • Benefits begin after the end of the elimination period. The elimination period begins on the day you become disabled and is the length of time you must wait, while disabled, before you are eligible to receive a benefit. The eliminationperiod is 0 days for an accident and 7 days for sickness
VOLUNTARY LONG TERM DISABILITY
Long Term Disability (LTD)- most people have enough savings to remain solvent for a short period of time after becoming disabled but if you do not have a means of income until Social Security kicked in would you be able to continue your lifestyle?
• SANS provides all employees working 20 or more hours per week the option to purchase long term disability insurance
• Disability insurance is a plan designed to provide partial incomereplacement coverage to eligible employees who become disabled and are unable to work due to an illness or injury for a long period of time • If you did not elect the benefit when it was originally offered in 2022, you can still elect during Open Enrollment but a Statement of Health (SOH) will be required
Benefit
Voluntary Long Term Disability Details
• The maximum benefit amount is 60% of your gross monthly earnings, up to $8,000 per month • The maximum duration is until your SSNRA (Social Security
Normal Retirement Age) • Benefits begin after a 90 day elimination period. The elimination period begins on the day you become disabled and is the length of time you must wait, while disabled, before you are eligible to receive a benefit
Voluntary Supplemental Life Insurance
• Life insurance is a plan that pays out a cash sum to a designated beneficiary (beneficiaries) in the event of the covered person’s death • This plan’s purpose is to provide economicsecurity for one’s family should the covered person pass away
Benefit Details
Voluntary Supplemental Life Insuranceand Accidental Death & Dismemberment Insurance (AD&D)
Voluntary Spouse Supplemental Life Insurance
Voluntary Dependent Supplemental Life Insurance
OtherBenefits
• Buy in $10,000 increments • To a maximum of 5 times your pay or $500,000 • Guaranteed Issue Amount- $100,000
• Buy in $5,000 increments • To a maximum of $100,000 or 50% of the employee's election • Guaranteed Issue Amount- $25,000
• Buy $10,000 on all children • Children 15 Days to 6 monthsget $1,000 of coverage • Children 6 months or older get $10,000 of coverage • Child age limit: 19 or 23 if a full-time student (must have documentationin
ADP showing student status) • Guaranteed Issue Amount- $10,000 • Conversion& Portability • Accelerated Benefit Option- if you have 12 months or less to live you can request up to 80% of your insured coverage while living • Will Preparation,Estate Resolution Services, & Travel Assistance
When is a Statementof Health(SOH) needed?
If you want to purchasemore than $100,000of coverage for yourself or $25,000for your spouse, a Statement of Health is required. If you are not newly eligible for this benefit a Statement of Health is required for any coverage election amount. You can find the Statement of Health formon ADP for you to submit online. The completed Statement of Health must be submitted as per the instructions on the form. If you are newly eligible for this benefit, you must be approved for any amountsover the guaranteed issue amount,if you do not submit the Statementof Health or are declined you will get $100,000 of coverage on yourself or $25,000 on your spouse.
Voluntary Supplemental Life Insurance
• Below are the Life & AD&D rates per $1,000 of coverage by your age • Rates for your age will only change each year on January 1st if you “age up” into a new age band • We have also provided several example calculationsshould you choose one of the below coveragelevels
Employee Life & AD&D Rates Per $1,000 $10,000 $50,000 $100,000 $250,000 $500,000
Less than 30 $0.032 $0.32 $1.58 $3.15 $7.88 $15.75 30-34 $0.034 $0.34 $1.68 $3.35 $8.38 $16.75 35-39 $0.041 $0.41 $2.05 $4.10 $10.25 $20.50
40-44 $0.055 $0.55 $2.75 $5.50 $13.75 $27.50
45-49 $0.082 $0.82 $4.08 $8.15 $20.38 $40.75
50-54 $0.124 $1.24 $6.18 $12.35 $30.88 $61.75
55-59 $0.189 $1.89 $9.43 $18.85 $47.13 $94.25
60-64 $0.286 $2.86 $14.28 $28.55 $71.38 $142.75
65-69 $0.478 $4.78 $23.88 $47.75 $119.38 $238.75
70+ $0.891 $8.91 $44.53 $89.05 $222.63 $445.25
Spouse Life & AD&D Rates Per $1,000 $5,000 $10,000 $25,000 $50,000 $100,000
Less than 30 $0.032 $0.16 $0.32 $0.80 $1.60 $3.20 30-34 $0.034 $0.17 $0.34 $0.85 $1.70 $3.40 35-39 $0.042 $0.21 $0.42 $1.04 $2.08 $4.15
40-44 45-49 $0.056 $0.28 $0.56 $1.39 $2.78 $5.55 $0.082 $0.41 $0.82 $2.05 $4.10 $8.20
50-54 55-59 $0.124 $0.62 $1.24 $3.10 $6.20 $12.40 $0.189 $0.95 $1.89 $4.73 $9.45 $18.90
60-64 65-69 $0.286 $1.43 $2.86 $7.15 $14.30 $28.60 $0.478 $2.39 $4.78 $11.95 $23.90 $47.80
70+ $0.891 $4.46 $8.91 $22.28 $44.55 $89.10
Child
Per Unit
Life AD&D Rate per $1,000 $10,000
$0.293 *Child(ren) rates are per child unit, a unit may consist of more than one child $1.47
