DISABILITY INSURANCE
Disability insurance coverage is designed to provide financial security during a time of non-work related injury or illness. These benefits provide a partial source of income to help you maintain your household expenses while you are out.
Effective January 1, 2024, Versiti will be changing our Short-Term and Long-Term Disability Carrier to the Hartford.
Short-Term Disability (STD) helps to provide partial pay during the first 6 months of your sickness or non-work injury. This is a company paid benefit and available to all full-time benefit eligible employees.
Note – You will be required to supplement disability payments with your accrued PTO.
There is no employee premium cost to employees for this coverage.
Long-Term Disability (LTD) provides a partial salary replacement for eligible full-time employees who are absent from work for an extended period of time due to a qualified illness or non-work related injury. This benefit begins after Short-Term Disability is exhausted.
Versiti will provide a benefit of 60% of the first $75,000 in covered salary at no cost for all eligible full-time employees. This is a taxable benefit.
For employees earning more than $75,000, you may elect the Full Coverage Option for Long-Term Disability coverage which is a tax-free benefit. Coverage will be 60% up to a maximum of $300,000 of covered salary. If you become disabled, the Full Coverage benefit will not be subject to tax but you have to pay for the benefit with after-tax dollars.
Versiti will contribute to offset a portion of the premium if you elect the Full Coverage option.
If you enroll after first eligible for the Full Coverage as a new hire, you will need to provide evidence of insurability with your election request.
Versiti, Inc. Employer Paid LTD Benefit Highlight Sheet
Versiti, Inc.Voluntary LTD Benefit Highlight Sheet
Versiti Long Term Disability Plan Description 2024
Versiti Long Term Disability-Managers and Above Plan Description 2024
Rates:
All full-time benefit eligible employees will receive the core $75,000 benefit paid by Versiti. There is no employee premium cost to employees for this coverage. Benefits are taxable when paid by the employer.
The cost for the Full Coverage benefit for covered salary over $75,000 is $1.35 per $100 Monthly Benefit.
To determine your monthly premium before the subsidy, use the following steps:
- Enter Annual Earnings (example $80,000 annual earnings) = $80,000
- Calculate monthly earnings (1. Divided by 12) = $6,666.67
- Calculate monthly benefit (2. Multiply by 60%) = $4,000
- Find value per $100 (3. Divided by 100) = $40
- Estimated month contribution (4. Multiplied by $1.35) = $54
Each employee’s specific rate will be calculated based on current salary.
Versiti will also provide the following to offset some employee premium if you elect the Voluntary Full Coverage: $8.25 per pay period
How to submit a claim: Sign in to MyBenefits now.
〉 Make sure to have the following information available:
- Your contact information
- Disability details
- Physician contact information
An “Authorization to Disclose Information About Me” form may be mailed to you from MetLife after you report your disability claim. You can expedite this process by downloading this form from MyBenefits at www.metlife.com/mybenefits. Click on the “Forms” link in the upper right hand corner of the navigation bar. You should sign and return this form as soon as possible. This release authorization will expedite the processing of your disability claim.
When you report a disability claim MetLife will send you written acknowledgement of your request. A MetLife Case Manager may contact you within a few business days if they need to discuss additional information with you.
For disability claims:
- You may be contacted to discuss your medical condition, including the impact it has on your ability to do your job, and your treatment plan.
- Your Health Care Provider may also be contacted, if applicable to discuss your medical information, treatment plan, prognosis and functional abilities.
- Regions may be contacted to discuss your specific job duties in detail. Confidential medical information will not be shared with Regions except for plan administration purposes such as return to work purposes
Effective communication is a two-way process; therefore, you are encouraged to call your Case Manager anytime you have questions or concerns about the program or your case. A Customer Service Unit is also available from 8:00 a.m. – 11:00 p.m. (Eastern Time) to answer your questions. The toll-free number is 1-833-771-1432.
Registering for MyBenefits comes with many benefits and can help make your claim process quicker and smoother.
〉 Benefits of Registering online include:
- Submit a claim or absence (if eligible)
- See claim status, history, payments, and appeals
- Set up direct deposit of benefits
- Download disability form
Call: 1-833-771-1432
Website: http://www.metlife.com/mybenefits
To file a claim or request leave:
- Telephone: 1-888-301-5615 (M-F, 8 a.m. to 8 p.m., ET)
- Policy Number: 715324
- Website: www.thehartford.com/mybenefits
Versiti is committed to provide reasonable accommodations to employees with known disabilities and strives to foster a positive work environment where diversity is embraced.
The American With Disabilities Act (ADA may help an individual if a covered disability impact that person’s ability to perform his or her job. You may request an accommodation when you have either an existing disability or health concern which impacts your ability to perform the essential functions of your job.