There are times when a medical condition, illness or injury may prevent you from being able to work. Forvis Mazars wants to ensure you have financial protection during these times. The firm provides Short-Term Disability (STD) and Long-Term Disability (LTD) for these instances.
Our STD coverage provides income protection in the form of 66.67% of your base salary, up to $2,000 per week, following a 14-calendar day elimination period, up to 11 weeks. All claims are subject to approval by the disability carrier, MetLife.
Disabilities arising from pregnancy or pregnancy-related illness are treated the same as any other illness and subject to the firm’s STD policy.
The cost of the premium paid by on your behalf by Forvis Mazars will be calculated as imputed income so your benefit will not be subject to taxes, and you will receive the highest possible amount when you need it the most.
If an employee is eligible for State Benefits, they must apply if required by state law. If permitted, the STD benefit will be reduced by State Benefits or other government benefits that apply. Depending on employee compensation, the amount of the State Benefit and other factors, employees may only receive the minimum weekly benefit.
The LTD plan provides income protection in the form of 60% of your base salary, up to $12,000 monthly for illness or injury that results in a long-term absence from employment. LTD typically begins on week 12 after STD ends.
All LTD claims are subject to approval by the disability carrier, MetLife, and are offset with any payments received under Social Security or workers’ compensation for the same time period.
The cost of the premium paid on your behalf by Forvis Mazars will be calculated as imputed income so your benefit will not be subject to taxes and you will receive the highest possible amount when you need it the most.
| Disability Coverage Information | ||
|---|---|---|
| STD | LTD | |
| Accident & Illness benefits begin: The length of time you must be disabled before benefits begin. | Day 15 | Day 91 |
| Coverage amount | 66.67% of your base salary, up to $2,000 per week | 60% of your salary |
| Maximum payment period: Maximum length of time you can receive disability benefits. | Up to 11 weeks | Social Security Normal Retirement Age |
An employee may need to transition from short-term disability to long-term disability if they are unable to return to work. Once short-term disability exhausts, the disability carrier, MetLife, will open a long-term disability claim on behalf of the employee. The approval process can take some weeks due to collection of additional records for medical and employment purposes. Once approved, MetLife will pay the employee monthly at 60% of the employee’s salary.
