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Buying STD
Made you all look now didn't I? Ha.
I am talking Short Term Disability here folks! :P
So new job has many great perks/benefits but one thing they do not provide is STD. They do have a broker I guess you call it with Colonial Life that you can purchase a plan. I emailed the contact only because I thought it might be good to see the options. 1. We are still up in the air about another baby 2. say I would need minor surgery or some fluke thing comes up and there would go all my vacation or sick time. Our HR lady said this did actually happen to her a few months after she started.
So when I emailed the contact she said there are many options and depends on our budget. But does that $$ taken out of pay just pay for the policy or is that the funds used to pay you say you need to use?? I did email her with more questions. Just thought I would ask you very helpful ladies if you every experienced.
Thank you!
Re: Buying STD
It pays for the policy, kinda like health insurance or life insurance. It isn't like a savings account.
There are TONS of options. I have dealt with a couple companies, all have policies that cover different circumstances:Cancer, Pregnancy, Accident, etc. to the point it can be overwhelming but the broker should be able to lead you through it. But the fact it is taken directly out of your check, some types are Pre-Tax like health insurance if your company has a cafeteria plan so it could save you some money.
I knew you would be able to help explain Kris! Thanks. She did say it would come out pre-taxed. I thought that it was paying for policy and not the actual funds used. DH wasn't getting that though. Ha. She did say too then it is a policy I can take with me say I would change jobs down the road.
That's great and something I didn't know was possible!
I'm glad you are enjoying your new job! (And I owe you an email, btw... I'll get to it!)
My three sons!
Yeah, they are portable since you are paying not your employee. Usually when you leave, you just call the agent and they will send you the monthly bill instead of having your employer pay.
We did this when Nathan left and went to work for the school district for a while.
i have it through work. I dont know if I can take it.. interesting, I did contact them for payment not my work...
it is worth it I think!!! I was kinda like "oh it's only 60% if your pay" or what ever, but it is not taxes- so really when I was off for maternity leave, the checks were about the same as my take home pay after all the taxes and things were taken out anyway! We didnt stuggle at all!
the only think I did have to do was send checks to my job to pay for my share of my health care while I was off. Sucked a little, but still glad I had the STD!
A guy I work with hurt his knee, he was off 4 days when he had it drained. It swelled up again in like a week. He has since been off for 3 weeks awaiting surgery and then who knows how long he will be out. I dont know if he has STD, but you never know what can happen and when it can come in handy!
Married, September 23, 2006