New Disability Vendor
Zurich American Life Insurance Company (Zurich), a New York domestic life insurance company, will become the insurer for the group short-term disability (STD) and long-term disability (LTD) insurance policies, effective January 1, 2020.
Next Steps and Key Dates
- Employers will receive a confirmation letter showing their disability insurance policy selection, or default plan placement (for those who did not make a selection during the enrollment period).
- If you elected to offer employee-paid (voluntary) disability coverage, your employees will need to make an enrollment decision between November 19 – December 31, 2019 using this enrollment form.
- Administrators may enroll eligible employees in employer-paid plans using MLPS beginning December 3, 2019. Groups adding 25+ new employees may use this template.
- The effective date of coverage is January 1, 2020.
Want more information? Watch our webinars now available on-demand.
All communications regarding the change will also be posted in Documents & Mailings. Check there for anything you may have missed!
1 Policy Number: CNYEX01112
Effective January 1, 2019 – December 31, 2019
Short-Term Disability for Lay Employees
Can be voluntary or employer-paid.
|Salary Ranges||Monthly Premium|
|Less than $25,000||$8.00|
|$25,000 to $44,999||$17.50|
|$45,000 and above||$32.00|
Voluntary Long-Term Disability Plan
|Less than $25,000||$12||$18||$14||$23|
|$25,000 to $44,999||$22||$37||$26||$44|
|$45,000 and above||$43||$72||$50||$86|
Employer-Provided Long-Term Disability Plan
Premium is $0.58 per $100 of monthly covered payroll.
- The maximum salary cap for the 66 2/3% lay plan is $90,000 of covered payroll rounded up to nearest $1,000 ($60,000 is 66 2/3% of $90,000 which is the maximum disability benefit of $5,000/mo)