Group Long-term Disability Insurance (Washington)
Long-term disability insurance pays an employee a portion of their salary if they are unable to work due to illness or injury that isn’t work-related.McGregor Benefits is a group long-term disability insurance broker in Washington that’s here to answer all your questions on the subject.
Are employers in WA required to provide LTD insurance?
Employers are not required to provide long-term disability (LTD) insurance, but may choose to do so to provide better benefits to their employees. A standard plan would cover 60% of an employee’s wages for 2 years for their own occupation then any occupation up to age 65.
Group long-term disability insurance plans can be paid for by employers, or can be offered as a voluntary benefit paid by the employee. If an employee enrolls when they are first eligible, employer group LTD covers all eligible employees regardless of their health. Typically there are pre-existing condition waiting periods.
Is Long-Term Disability insurance worth it?
The biggest benefit, of course, is protecting your employees. Your workforce will be happy knowing they’re safe in case of disability. The employer also benefits knowing that an ill or injured employee’s income will be replaced.
As a result, employee turnover will be low and productivity will be high. An added benefit is that you’ll be able to attract talented workers as your company grows. This is important for a company, because a skilled, happy workforce is a key ingredient of success.
Long-term Disability Insurance Plans for Employers in WA
It’s important that you find one that’s right LTD plan for your company. It needs to provide sufficient coverage while having a reasonably low premium, since you’re expected to pay it entirely.
McGregor Benefits is an independent health insurance agency that can help you. One of our group disability insurance experts will go over your needs and preferences, and then we will use our decades of experience and market clout to find you the perfect plan. We work with over 50 insurance carriers throughout Washington state.
We understand that as a business owner you are a busy individual, and we are happy to work around that.
Working with McGregor Benefits
Are you tired of brokers that only show up once a year during renewal? Are your employees confused about their benefits? Hiring us will solve both those problems for you. We’ll not only find you the perfect insurance plan, but our group long-term disability insurance agent will hold employee meetings and make sure your employees are aware of their benefits and how to claim them.
One of the best things about hiring us is that you need to pay nothing extra for our services. So not only will we help you purchase group long-term disability insurance for small business, but we’ll do it without charging any extra fees. All you will need to pay is the insurance premium – which would be the same with or without our help.
Have questions? You can call us at 888-299-0949. If you’re satisfied with your current insurance plan but would like to work with us, just contact our office for a broker of record letter, which will allow us to offer our services to you.