The new voluntary short-term disability plan is especially beneficial to employees with low current sick/vacation leave balances.
Do you know your balance?
Did you know that should you become ill or injured and unable to work, that the University-provided Long-term disability (LTD) plan has a 26-week elimination period? That means, you would need to be off work for at least 26 weeks before you would be eligible to file a claim under that policy.
Approximately 85% of benefit eligible employee’s do not have enough accumulated sick/vacation time to bridge the gap until LTD eligibility (26 weeks). 70% employees have less than half of the amount of time needed (12 weeks) to bridge the gap, and 30% have less than quarter of the time banked (6 weeks).
The short-term disability (STD) plan features two (2) plan options and multiple coverage levels to fit your budget needs. Coverage levels are based on a weekly benefit (payment) amount. Refer to the premium worksheet for your salary range. The worksheet will provide you with the maximum election amount for your salary range, however, you may opt to select lower amounts of coverage. The plan does not off-set your sick and vacation time. Should you have a medically necessary leave of absence, benefits received from the policy are paid in addition to pay you receive from Missouri State. This is a helpful feature as most people experience increased bills associated with an illness or injury that keeps them from working. In the absence of accumulated sick/vacation time, the plan would continue to provide a benefit as well.