Page 21 - Guide
P. 21
Disability Coverage 2017 Beneits Enrollment
Short Term Disability (STD) Pre-
Hussmann provides options for short term disability as well. If you become disabled and Existing
are unable to work due to an accident or injury, you may be able to receive STD beneits Condition
which will replace a portion of your salary. Exclusion
The LTD plan does not
Long Term Disability (LTD) and Basic LTD cover disabilities resulting
from a pre-existing
Hussmann also provides long term disability beneits at no cost to you. Once your condition, which is one
for which:
STD beneits end, if you continue to be disabled and unable to work due to an accident X You received
or injury, then you may be able to receive LTD beneits. LTD beneits are payable for medical treatment,
as long as you remain disabled or until your Social Security normal retirement age. consultation,
care, or services
Hussmann provides a basic LTD beneit equal to 40% of your Base Pay. Hussmann pays (including diagnostic
the full cost of this beneit. See the summary plan description for further details. measures), or took
prescribed drugs or
medicines in the 3
Supplemental LTD months immediately
prior to your
You may purchase supplemental long term disability coverage which will replace an effective date of
additional 20% of your base pay. If applicable, base pay will include commission. See the coverage, and
summary plan description for further details. X Your disability
begins in the first 12
months after your
The maximum monthly beneit (basic and supplemental LTD combined) is $20,000. This effective date of
beneit will be reduced by certain other income such as Social Security disability beneits coverage
and other sources of income. If you purchase an
increased amount of LTD
coverage, the pre-existing
If you waive this beneit when irst eligible and then choose to enroll at a later date, condition exclusion also
evidence of insurability (EOI) will be required. applies to the additional
amount of coverage.
To calculate the monthly supplemental LTD premium, follow this calculation.
X Monthly earnings (maximum of $33,333) ÷ 100 x 0.277 = monthly premium/payroll
deduction
Annual Salary Monthly Salary Divide Multiply Monthly Premium
$400,000 $33,333 ÷ 100 x 0.277 $92.33
$200,000 $16,667 ÷ 100 x 0.277 $46.17
$100,000 $8,333 ÷ 100 x 0.277 $23.08
$75,000 $6,250 ÷ 100 x 0.277 $17.31
$50,000 $4,167 ÷ 100 x 0.277 $11.54
$30,000 $2,500 ÷ 100 x 0.277 $6.93
$20,000 $1,667 ÷ 100 x 0.277 $4.62
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Short Term Disability (STD) Pre-
Hussmann provides options for short term disability as well. If you become disabled and Existing
are unable to work due to an accident or injury, you may be able to receive STD beneits Condition
which will replace a portion of your salary. Exclusion
The LTD plan does not
Long Term Disability (LTD) and Basic LTD cover disabilities resulting
from a pre-existing
Hussmann also provides long term disability beneits at no cost to you. Once your condition, which is one
for which:
STD beneits end, if you continue to be disabled and unable to work due to an accident X You received
or injury, then you may be able to receive LTD beneits. LTD beneits are payable for medical treatment,
as long as you remain disabled or until your Social Security normal retirement age. consultation,
care, or services
Hussmann provides a basic LTD beneit equal to 40% of your Base Pay. Hussmann pays (including diagnostic
the full cost of this beneit. See the summary plan description for further details. measures), or took
prescribed drugs or
medicines in the 3
Supplemental LTD months immediately
prior to your
You may purchase supplemental long term disability coverage which will replace an effective date of
additional 20% of your base pay. If applicable, base pay will include commission. See the coverage, and
summary plan description for further details. X Your disability
begins in the first 12
months after your
The maximum monthly beneit (basic and supplemental LTD combined) is $20,000. This effective date of
beneit will be reduced by certain other income such as Social Security disability beneits coverage
and other sources of income. If you purchase an
increased amount of LTD
coverage, the pre-existing
If you waive this beneit when irst eligible and then choose to enroll at a later date, condition exclusion also
evidence of insurability (EOI) will be required. applies to the additional
amount of coverage.
To calculate the monthly supplemental LTD premium, follow this calculation.
X Monthly earnings (maximum of $33,333) ÷ 100 x 0.277 = monthly premium/payroll
deduction
Annual Salary Monthly Salary Divide Multiply Monthly Premium
$400,000 $33,333 ÷ 100 x 0.277 $92.33
$200,000 $16,667 ÷ 100 x 0.277 $46.17
$100,000 $8,333 ÷ 100 x 0.277 $23.08
$75,000 $6,250 ÷ 100 x 0.277 $17.31
$50,000 $4,167 ÷ 100 x 0.277 $11.54
$30,000 $2,500 ÷ 100 x 0.277 $6.93
$20,000 $1,667 ÷ 100 x 0.277 $4.62
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