Disability Options
Employees may choose long-term and short-term disability income coverage. Premiums vary depending upon the employee's salary and are payroll deducted. The following are the disability options offered by SCF:
UNUM Short-term Disability
To calculate your per-paycheck cost for this coverage, complete the calculations below. The final cost may vary slightly due to rounding.
Weekly Salary X Benefit % = Your Weekly Benefit
Your Weekly Benefit ÷10 = Results X *Your Rate = Your Monthly Cost
Your Monthly Cost X 12 = Annual Cost ÷ Number of Paychecks per Year = Cost per Paycheck
* Your Rate is based on your age. See chart below.
| Monthly Rates per $10 of Weekly Benefit | |||
|---|---|---|---|
| Age | Rate | Age | Rate |
| <25 | $0.36 | 50-54 | $0.34 |
| 25 - 29 | $0.36 | 55-59 | $0.41 |
| 30-34 | $0.33 | 60-64 | $0.49 |
| 35-39 | $0.31 | 65-69 | $0.57 |
| 40-44 | $0.30 | 70-74 | $0.62 |
| 45-49 | $0.31 | 75+ | $0.67 |
| *STD rates are based on five-year increments. Rates increase as you age. | |||
If you meet the definition of disability:
You would eligible to receive a weekly benefit equal to 60% of your weekly earnings,
to a maximum of $800 per week
You may receive a benefit for 12 weeks
The elimination period is seven (7) days
UNUM Long-term Disability
|
Pretax |
No |
|
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Coverage |
SCF covers 50% of employee's monthly base salary up to $10,000. If you are a faculty member, only your academic year contract salary is included in determining contract benefits and premium. The Employee Buy-Up Option offers the employee an additional 10% which increases the coverage to 60% of employee's monthly base salary up to $10,000 per month. |
|
|
Buy-Up Premium per month |
$0.18 |
Rates per $100 of covered salary |
|
Comment |
Benefits begin on the 91st day after a continuous period of total disability, although disability payment is generally not received for at least an additional 30 to 45 days. |
|
Long Term Disability Rates
$0.18 per $100 of Covered Salary
To calculate your per-paycheck cost for this coverage, complete the following calculations:
Annual Salary ÷ 100 = Result X $0.18 = Annual Cost ÷ Number of Paychecks per Year = Cost per Paycheck*
*Final cost may vary slightly due to rounding.
