Disability
The disability benefits consist of a Short-term Disability (STD) Plan and Long-term Disability (LTD) Plan. The plans work together to replace a portion of your income when you are on an approved absence from work for your own serious health condition. NOTE: If you become disabled during the first 12 months of coverage due to a pre-existing condition, the disability plans may not pay benefits
BASIC LIFE AND aD&d
Meissner Mfg. Co. automatically provides you with Basic Life and Accidental Death & Dismemberment (AD&D) at no cost to you, and even if you elect to waive medical and dental coverage. Coverage is provided by Mutual of Omaha. All exempt employees receive 1x their annual base salary up to $200,000 maximum. Benefit Reductions Age 65 = 35% of original benefit and Age 70 = 50% of original benefit.c
NAMING YOUR BENEFICIARIES
Your beneficiaries are the people or institutions you name to receive your Life and AD&D benefits in the event of your death. It is important that you keep up-to-date beneficiary information on file with the Human Resources department. You cannot name a new beneficiary without completing a new designation form.
SHORT TERM DISABILITY (STD)
Meissner Mfg. Co. provides all benefit eligible employees Short Term Disability (STD) insurance through Mutual of Omaha as a means of ensuring they have income protection if they are unable to work due to a disabling illness or injury including pregnancy. Following the 60-day waiting period, the STD benefit pays 60% of an employee’s weekly earnings, up to a maximum benefit of $1,386 per week for up to 17 weeks.
LONG TERM DISABILITY (LTD)
Meissner Mfg. Co. provides Long Term Disability (LTD) insurance through Mutual of Omaha and serves as income protection for disabling illnesses or injuries (approved by the insurance carrier) lasting more than 180 days. LTD benefits pay 60% of an employee’s monthly earnings up to a maximum benefit of $6,000 per month. Benefits continue up to Social Security Normal Retirement Age, or until you are no longer disabled, whichever comes first.
LONG TERM CARE (LTC)
Meissner Mfg. Co. provides Long Term Care (LTC) insurance through UNUM and provides coverage for one or more necessary or medically necessary diagnostic, preventive, therapeutic, rehabilitative, maintenance or personal care services, provided in a setting other than an acute care unit of a hospital. This policy provides coverage in the form of a fixed dollar guarantee benefit if you are Disabled and you are receiving care while confined in a Nursing Facility, a Residential Care Facility or a Residential care Facility for the Elderly.
Waiting periods for Mutual of Omaha life, short term and long term disability and UNUM LTC vary. Mutual of Omaha elimination periods vary based on job class.