STD & LTD Benefits

mrbill

For disability benefits - what % of an individuals salary do you pay for a benefit ? For the LTD benefit - Who pays ? The employer or the employee ?
Has anyone had any success in having the employee pay for the benefit, instead of the employer ? The beauty of this arrangement would be that the benefit would be a non-taxable receipt. Thanks,

Susan Fentin MA

STD and LTD benefits vary widely, depending upon whether the company is self insured for these benefits or whether they provide them through an insurance plan. Some companies offer STD policies that are optional and that employees can purchase if they choose. Your best bet would be to contact an insurance broker who deals in such policies to find out what the options are. Good luck
Susan Fentin

System

[font size="1" color="#FF0000"]LAST EDITED ON 11-19-02 AT 09:32AM (CST)[/font][p]Our company used to offer LTD as a 100% company-paid benefit and we could purchase STD at our own cost if we wished. With the economic challenges of the past year or so, LTD is no longer a company-paid benefit, but the company offers us the opportunity to purchase it if we wish. STD is the same. Like Susan said, it depends on your insurance carrier and what your company can afford to offer to employees.

Christy Reeder
Website Managing Editor
[url]www.HRhero.com[/url]

SandiF

We are self-insured for STD and we pay the entire premium for LTD benefits.

sonny

We pay 100% LTD and have no STD

ritaanz

The company pays 100% for the STD and LTD for our exempt employees. The non-exempt can purchase the STD and LTD insurance through payroll deductions. We have almost 100% participation in the plan.

NaeNae55

Our plan is 100% paid by employees. The cost percentage is based on age of the employee, so no fixed percent.

Good luck!

AnneLa

Our STD & LTD is 100% employer funded. Our STD benefit is 80% weekly salary and our LTD is 60%. I work for such a generous employer!