Group Short-term Disability Insurance (Washington)
Short-term disability insurance (STD) pays your employees a percentage of their salary if they are unable to work for a short period of time due to sickness or off the job injury. Private Short Term Disability typically pays any remaining amounts after the Washington Paid Family Medical Leave Benefit.
The Difference Between Short-term and Long-term Disability Insurance
The difference between the two is mostly about when coverage begins, and how long it lasts.
Short-term disability, as the name implies, is for a shorter period of time. Plans can start as early as the day of the injury and typically last 12-24 weeks. Long-term disability typically has a waiting period 90-120 days and can last until age 65 social security retirement age.
Group Short-term Disability vs Individual Short-term Disability
One of the main differences is that individual insurance policies usually cost more and require individual health underwriting. Individual STD is not tied to an employer but instead the individual owns the policy.
Group short-term disability insurance plans cover all eligible employees regardless of their health. The group STD plans typically have more affordable premiums as well.
Our service is.
All you pay for is the premiums, which are the same with or without our help.
Why offer Short-term disability when WA state has Paid Family and Medical Leave (PFML) as of January 2020?
Higher wage employees
If you have employees making more than $87,000 a year the state’s plan would not replace 60% of their wages. Employers can offer Short-term Disability in addition to WA state’s PFML so all employees can get 60% of wages during a disability.
Maximum Annual Benefit Duration
PFML offers 12 Weeks of Medical Leave within a calendar year. It does not consider if someone has multiple disabilities within a calendar year, they can only take up to 12 weeks of leave. Offering employer STD would allow a separate benefit for each disability.
Group Short-term Disability Insurance for Small Business
If you own a small business and are looking for the right group disability insurance plan, McGregor Benefits can help. We have a team of expert insurance brokers who can take you through various available group short-term disability insurance plans for employers helping you find the one that suits your needs.
The goal, when creating a benefits package for your employees, is to provide excellent health insurance that will protect your employees and attract more talent, while keeping your costs low. Our brokers understand, and will use their experience and skills to find you a comprehensive yet affordable plan.
Employer Group FAQs
What is short-term disability insurance?
Short-term disability insurance (STD) pays your employees a percentage of their salary if they are unable to work for a short period of time due to sickness or injury. This does not include on-the-job injuries, which are dealt with differently.
How do I check if i have short-term disability insurance?
Ask your broker, agent, or policy provider.
What is typical insurance period for short-term disability?
Short-term disability, as the name implies, is for a shorter period of time. Plans can start as early as the day of the injury and typically last 12-24 weeks. Long-term disability typically has a waiting period 90-120 days and can last until age 65.
Employee Benefits Services We Offer
We value personal relationships, affordability, reliability, compliance and simplicity.
Included In Your Employer Group Insurance Plans
Our producers hold enrollment meetings so your employees understand the benefits and take the time to answer all questions and concerns.
Tired of all the paper forms? We offer online benefits, HR onboarding, compliance resources & ACA analytics.
We have helped thousands of employees with claim issues. We understand the claim issue pitfalls, encourage your employees to call us for help and we will call the insurance carrier on their behalf.
The moment we receive your renewal we will analyze the marketplace. We will present options so you can offer affordable benefits that are in line with your company’s expectations