Overview
A serious illness or injury can cause significant financial hardship for your family. Disability insurance, provided through The Hartford, replaces a portion of your income to help you continue paying your bills and meeting your financial obligations during this difficult time.
Disability insurance plans
Short-term disability
Two options for coverage that you can purchase and pays you a disability benefit for up to 9 or 11 weeks.
Long-term disability
Novant Health provides company-paid long-term coverage to protect you from the financial impact of an extended disability.
Short-Term Disability
Novant Health's short-term disability coverage through The Hartford provides you with:
| Option 1 | Option 2 | |
|---|---|---|
| Benefits start | On the 30th day of your disability, for up to 9 weeks | On the 15th day of your disability, for up to 11 weeks |
| Payments equal to | You can purchase coverage equal to 60% of your earnings up to $2,500 weekly | |
While short-term disability coverage is voluntary, you will be defaulted to the plan that pays 60% of pay after 30 days. You can use your new hire life event to change to the 15-day plan or opt out of short-term disability coverage altogether. If you opt out or choose to elect coverage for the first time outside of your new hire period, you will be required to answer medical questions to demonstrate evidence of insurability and will be subject to denial or approval by the carrier.
Team members pay the full cost of short-term disability with after-tax dollars so that the benefit is received tax-free, should you need it.*
* Directors and above do not elect short-term disability.
Long-Term Disability
Novant Health's long-term disability coverage through The Hartford provides you with:
- Automatic, company-paid coverage; no need to enroll.
- Benefits that start after you have been disabled for 90 days.
- Payments equal to 60% of your salary, up to a maximum of:
- Team Members: $15,000 per month.
- Physician Team Members: $10,000 per month.
- Executive Team Members: $15,000 per month.
Physician and Executive Individual Disability Insurance (IDI)
Physician IDI Physician Team Members’ Long-term Disability plan limits income replacement to $10,000/month. For many highly compensated physicians, this limit may not meet financial needs during a loss of income. The IDI is a company-paid, supplemental tier of income replacement that can increase the monthly limit to $25,000.
Take note! As a new hire, you must actively enroll in this benefit. If not, your disability benefits will be limited to the Group LTD plan only.
Executive IDI Executive Team Members’ Long-term Disability plan limits income replacement to $15,000/month. For many highly compensated executives, this limit may not meet financial needs during a loss of income. The IDI is a company-paid, supplemental tier of income replacement that can increase the monthly limit to $30,000.
Take note! As a new hire, you must actively enroll in this benefit. If not, your disability benefits will be limited to the Group LTD plan only.