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Disability Premiums

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

  Lay Employees Clergy
Salary Ranges 25%
Option
50%
Option
25%
Option
50%
Option
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)

 

Disability Insurance Disclaimer

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