Overview
A serious illness or injury can cause significant financial hardship for your family. Disability insurance, provided through New York Life Group Benefit Solutions, replaces a portion of your income to help you continue paying your bills and meeting your financial obligations during a difficult time.
The Company pays for Short-Term Disability (STD) and basic Long-Term Disability (LTD) Insurance. Salaried associates have the option to enroll in “buy up” LTD insurance.
Short-Term Disability
The Company pays for STD insurance for an absence due to an eligible non-work-related injury or illness.
Hourly Non-Union Associates
The benefit provides you with 60% of your weekly base pay, up to a maximum of $1,500 per week for up to 180 days. Benefits begin on the first day of a non-work-related accident or injury or the eighth day of an illness.
Salaried Associates
The benefit provides you with 100% of your weekly base pay for up to 90 days. Benefits begin on the first day of your disability.
To apply for STD benefit payments, contact New York Life Group Benefit Solutions at 1-888-647-6467. You must also notify your supervisor and HR Business Partner. If your disability claim is approved, benefits will be paid provided you continue to meet the definition of disability or until you have received benefits for the maximum period, whichever comes first.
Long-Term Disability
The Company pays for basic LTD insurance for an absence due to an eligible non-work-related injury or illness. LTD benefits are paid if you continue to be disabled when the period of STD benefit payments ends. You do not need to file a new claim for LTD benefits; your benefits will automatically transition from STD. New York Life Group Benefit Solutions will contact you for any updates that may be needed.
The amount of LTD benefit payments you may receive is based on whether you are a non-union hourly associate or a salaried associate:
Hourly Non-Union Associates
The benefit is available for an eligible injury or illness that causes you to be disabled for more than 180 days and replaces 60% of your base pay, up to a maximum of $10,000 per month.
Your pay used to determine benefits is your wage in effect just before the date your disability begins. It does not include bonuses, commissions, overtime pay, or other extra compensation.
Salaried Associates
The benefit is available for an eligible injury or illness that causes you to be disabled for more than 90 days and replaces 60% of your base pay, up to a maximum of $13,100 per month.
Your pay used to determine benefits is your wage in effect just before the date your disability begins. It includes bonuses, but not commissions, overtime pay or other extra compensation.
“Buy Up” Long-Term Disability Insurance
If you are a salaried Associate, you may also choose to purchase “buy up” LTD to provide a higher level of coverage. “Buy up” LTD replaces 66 2/3% of your base pay, up to a maximum of $15,000 per month. This option also covers any Annual Bonus paid in the previous year (commissions and overtime excluded). If you do not enroll in coverage when first eligible, evidence of insurability (EOI) will be required to enroll in the future.
For more information on LTD benefit eligibility and payments, contact New York Life Group Benefit Solutions at 1-888-647-6467.