Page 18 - 2016 Open Enrollment Non-Union
P. 18
Beneits Enrollment
Long Term Disability (LTD) Disability Coverage
Hussmann also provides long term
disability beneits at no cost to you. Short Term Disability (STD)
Once your STD beneits end, if you Hussmann provides options for short term disability as well. If you
continue to be disabled and unable become disabled and are unable to work due to an accident or injury,
to work due to an accident or injury, you may be able to receive STD beneits which will replace a portion
then you may be able to receive LTD of your salary.
beneits. LTD beneits are payable for
as long as you remain disabled or until Supplemental LTD
your Social Security normal retirement You may purchase supplemental long term disability coverage which
age.
will replace an additional 20 percent of your base pay. If applicable,
Basic LTD base pay will include commission. See the summary plan description
Hussmann provides a basic LTD for further details.
beneit equal to 40 percent of your The maximum monthly beneit (basic and supplemental LTD
Base Pay. Hussmann pays the full cost combined) is $20,000. This beneit will be reduced by certain other
of this beneit. See the Summary Plan income such as Social Security disability beneits and other sources
Description for further details. of income.
If you waive this beneit when irst eligible and then choose to enroll
Pre-Existing Condition at a later date, evidence of insurability (EOI) will be required.
Exclusion
The LTD plan does not cover disabilities To calculate the monthly supplemental LTD premium, follow this
resulting from a pre-existing condition, calculation:
which is one for which:
Monthly earnings (maximum of $33,333) ÷ 100 x 0.277 =
You received medical treatment, monthly premium/payroll deduction
consultation, care, or services
(including diagnostic measures), or Annual Salary Monthly Divide Multiply Monthly
took prescribed drugs or medicines Salary Premium
in the 3 months immediately prior to $400,000 $33,333 ÷ 100 x 0.277 $92.33
your effective date of coverage, and $200,000 $16,667 ÷ 100 x 0.277 $46.17
$100,000 $8,333 ÷ 100 x 0.277 $23.08
Your disability begins in the irst 12 $75,000 $6,250 ÷ 100 x 0.277 $17.31
months after your effective date of
coverage. $50,000 $4,167 ÷ 100 x 0.277 $11.54
$30,000 $2,500 ÷ 100 x 0.277 $6.93
If you purchase an increased amount of $20,000 $1,667 ÷ 100 x 0.277 $4.62
LTD coverage, the pre-existing condition
exclusion also applies to the additional
amount of coverage.
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Long Term Disability (LTD) Disability Coverage
Hussmann also provides long term
disability beneits at no cost to you. Short Term Disability (STD)
Once your STD beneits end, if you Hussmann provides options for short term disability as well. If you
continue to be disabled and unable become disabled and are unable to work due to an accident or injury,
to work due to an accident or injury, you may be able to receive STD beneits which will replace a portion
then you may be able to receive LTD of your salary.
beneits. LTD beneits are payable for
as long as you remain disabled or until Supplemental LTD
your Social Security normal retirement You may purchase supplemental long term disability coverage which
age.
will replace an additional 20 percent of your base pay. If applicable,
Basic LTD base pay will include commission. See the summary plan description
Hussmann provides a basic LTD for further details.
beneit equal to 40 percent of your The maximum monthly beneit (basic and supplemental LTD
Base Pay. Hussmann pays the full cost combined) is $20,000. This beneit will be reduced by certain other
of this beneit. See the Summary Plan income such as Social Security disability beneits and other sources
Description for further details. of income.
If you waive this beneit when irst eligible and then choose to enroll
Pre-Existing Condition at a later date, evidence of insurability (EOI) will be required.
Exclusion
The LTD plan does not cover disabilities To calculate the monthly supplemental LTD premium, follow this
resulting from a pre-existing condition, calculation:
which is one for which:
Monthly earnings (maximum of $33,333) ÷ 100 x 0.277 =
You received medical treatment, monthly premium/payroll deduction
consultation, care, or services
(including diagnostic measures), or Annual Salary Monthly Divide Multiply Monthly
took prescribed drugs or medicines Salary Premium
in the 3 months immediately prior to $400,000 $33,333 ÷ 100 x 0.277 $92.33
your effective date of coverage, and $200,000 $16,667 ÷ 100 x 0.277 $46.17
$100,000 $8,333 ÷ 100 x 0.277 $23.08
Your disability begins in the irst 12 $75,000 $6,250 ÷ 100 x 0.277 $17.31
months after your effective date of
coverage. $50,000 $4,167 ÷ 100 x 0.277 $11.54
$30,000 $2,500 ÷ 100 x 0.277 $6.93
If you purchase an increased amount of $20,000 $1,667 ÷ 100 x 0.277 $4.62
LTD coverage, the pre-existing condition
exclusion also applies to the additional
amount of coverage.
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