Keeping your income covered is easy with Voluntary Short Term Disability Insurance from Standard Insurance Company.
Hennepin County evaluated insurance carriers in the Short Term Disability insurance market and selected Standard Insurance Company to make this benefit available to you. The purpose of this presentation is to help you make an informed decision about whether enrolling in Hennepin County's Short Term Disability insurance program is right for you.
Title - Voluntary Short Term Disability Insurance from The Standard
Voluntary Short Term Disability insurance is designed to pay you a weekly benefit in the event you cannot work because of a covered illness or injury. This benefit replaces a portion of your income, helping you pay bills and meet other financial commitments in a time of need.
Title - Is Your Income Covered?
The Voluntary STD insurance offered to you through Hennepin County and underwritten by The Standard isn't your only option for protecting yourself from a loss of income. So why should you choose to enroll?
Simply put, Voluntary STD insurance is an easy, convenient way to protect a portion of your income. If you apply when you first become eligible for coverage, there's no medical evidence of good health required. So you won't be denied coverage for medical reasons.
By purchasing Voluntary STD insurance through your employer, you get an affordable group rate that is typically lower than the rate you could get if you purchased coverage on your own. You also get the convenience of paying your premiums through automatic payroll deductions. So you never have to worry about writing or mailing checks.
Finally, if you do not enroll in the Voluntary STD insurance program when you first become eligible - for example, shortly after becoming eligible for benefits as a new hire - a 60-day benefit waiting period will apply if you submit a claim within the first year of joining the plan.
Title - Why Enroll Now?
Hennepin County offers five Short Term Disability insurance options to its employees on a voluntary basis. Should you choose to participate in the plan, the option that you choose will depend on your personal situation. For example, how much sick leave, vacation time and Paid Time Off you have or whether you are the primary wage earner for your family will make a difference.
Hennepin County Short Term Disability Plan
With the exception of Option 1, all the STD insurance choices available to you will insure 60 percent of your predisability earnings up to a maximum weekly benefit of $2,000. Option 1 provides you with a flat STD benefit of $250 a week regardless of your earnings.
The main difference between Options 2, 3, 4 and 5 is the benefit waiting period. In most cases, the longer the benefit waiting period for the option you select, the lower your premium will be. Use the Needs Estimator and Premium Calculator located on The Standard's Web site for Hennepin County employees to determine which option might be right for you.
Title - Your STD Plan Options
| Option 1 | Option 2 | Option 3 | Option 4 | Option 5 | |
|---|---|---|---|---|---|
| Weekly STD Benefit | $250 | 60% of predisability earnings up to $2,000 | 60% of predisability earnings up to $2,000 | 60% of predisability earnings up to $2,000 | 60% of predisability earnings up to $2,000 |
| Benefit Waiting Period | 7 calendar days | 7 calendar days | 14 calendar days | 30 calendar days | 45 calendar days |
All five Voluntary STD insurance options available to you have a maximum benefit period of 90 calendar days minus the duration of your benefit waiting period, which may be 7, 14, 30 or 45 calendar days depending on which option you select. The benefit waiting period is the number of days after becoming disabled that you have to wait to become eligible to receive a Short Term Disability benefit, if your claim is approved. Please note that in order to begin receiving Short Term Disability benefits you must first exhaust all accrued sick leave, vacation and PTO hours. You must also satisfy the benefit waiting period, which you may do while receiving sick leave, vacation time or PTO.
Let's review an example: After choosing Option 4, which has a 30-day benefit waiting period, if your claim is approved you would receive your first benefit payment after being continuously disabled for 30 days and using up all of your sick leave, vacation pay and PTO. In this example, you have 45 days of sick leave and no vacation pay or PTO. Your Short Term Disability benefit would begin on Day 46, and you would continue to receive benefit payments for a maximum of 45 days. (90-day maximum benefit period minus 45 days of sick leave= 45 days of STD benefits). Notice that the 30 day waiting period runs concurrently with the 45 days of sick leave. If your sick leave, vacation pay and PTO total 90 days or more, you may not receive a Short Term Disability benefit.
Title - Maximum Benefit Period and Benefit Waiting Period
Day 1: Disability Begins
Day 30: Benefit Waiting Period ends
Day 46: Disabled employee begins receiving STD benefit
Day 90: Maximum Benefit Period ends. Disabled employee receives final STD benefit payment.
In this example, the disabled employee has 45 days of sick leave. STD benefits become payable on Day 46. The employee receives a STD benefit for 45 days. The maximum number of days you may receive a STD benefit depends on the Benefit Waiting Period, the amount of sick leave, vacation pay and PTO you have and the plan you select.
In most cases, the STD benefit is calculated by multiplying your insured predisability earnings by 60 percent and subtracting any deductible income. Typically, money you receive from other sources while disabled - for example, Public Employees Retirement Association disability, PERA retirement or unemployment income - is considered deductible income. Please review the Certificate of Insurance available on The Standard's Web site for Hennepin County employees for more details about what is counted as deductible income.
Title: How Is the STD Benefit Calculated?
| Insured predisability earnings | $800/week |
| STD benefit percentage | x 60% |
| $480 | |
| Less deductible income | -50 |
| Amount of STD benefit | $430/week |
Note: If you choose Option 1, your STD benefit will be a flat benefit of $250 a week minus deductible income. The minimum STD benefit for each of the available options is $100 a week.
In the event you need to file a Short Term Disability claim, please access a claim form online by visiting The Standard's Web site for Hennepin County employees. If you do not have access to the Web site, please contact the Human Resources Benefits Office at 612.348.3530.
Once The Standard receives your completed claim form, it will take approximately a week to process. If a claim decision is not made within a week, you will be notified with the details. On average, if your claim is approved, most checks are mailed within 2-3 weeks.
Title - Submitting a Claim Is Easy
Before making a decision, we encourage you to consider your personal financial situation and accrued leave balances. Carefully read all of the plan documents available on The Standard's Web site for Hennepin County employees and use the Needs Estimator and Premium Calculator available on the site to get an idea of what the coverage you need will cost. If you still have questions about Voluntary STD coverage, call the Human Resources Benefits office at 612.348.3530.
Once you've decided which option is right for you, fill out the enrollment form and return it to Human Resources Benefits office, A700 Govt Ctr, mail code 070. It's that simple.
Title - What Next?