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Short Term Disability
Benefits & Compensation
Short Term Disability
Exchange ideas about health plans, retirement, work/life benefits, and employee assistance.
Does your company have their own STD policy or do you go through a provider? For any companies that have written/funded their own, can you tell me the elements that make up such a policy? Thanks!
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Forums » Topic Forums » Benefits & Compensation » Short Term Disability
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Short Term Disability
posted at 10/28/2008 7:57 AM EDT
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Posts: 1047
First: 4/11/2002 Last: 9/14/2011 |
Your question is a little vague. When you ask if you go through a provider, are you referring to being fully-insured vs. self-insured? Generally, companies providing STD benefits for less than 50 employees will do so through a fully-insured contract with an insurance carrier.
For companies with greater than 50 employees, self-insuring the benefit may be an option depending on a number of variables such as past claims history, industry, financial prosperity of the company, etc. In this case, the company could either administer the claims internally (typically inadvisable) or contract with a third-party administrator (in many cases an insurance carrier such as MetLife) to process the claims. If the latter is the case, your administrator should be able to draft a policy/certificate of your benefits for you to dsitribute to your employees. If you're just looking for a general handbook policy on paid time off, you should be able to google some good ones out there. |
Forums » Topic Forums » Benefits & Compensation » Short Term Disability
