Group Disability

Tailored Group Plans to Protect Your Team’s Health and Well-being!

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Group Disability

At Matrix Insurance Agency, we provide comprehensive group disability solutions to support your workforce. Our Employer Sponsored Short Term and Long Term Disability plans offer crucial income protection during times of illness or injury, ensuring financial security for your employees. Additionally, our Voluntary Short Term and Long Term Disability plans allow employees to customize their coverage for added peace of mind. With flexible options, we help you deliver the protection your employees need, while managing costs and ensuring a smooth claims process.

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  • Coverage Duration: Provides income replacement for employees unable to work due to a temporary disability, typically lasting between 9 to 52 weeks.
  • Benefit Amount: Generally replaces a percentage of the employee’s salary, often around 50-70%.
  • Eligibility: Employees must meet specific criteria, such as full-time status and a minimum length of employment, to qualify.
  • Waiting Period: There is usually a waiting period (e.g., 1-2 weeks) before benefits kick in.
  • Qualifying Conditions: Covers various medical conditions, including illness, injury, surgery recovery, and pregnancy.
  • Claim Process: Employees must submit a claim with medical documentation to receive benefits.
  • Premiums: Can be employer-paid, employee-paid, or a shared cost.
  • Tax Implications: Benefits may be taxable if premiums are paid by the employer. Benefits may be tax free if premiums are paid by the employee with post tax dollars.
  • Integration with Other Benefits: Often coordinates with other benefits, such as sick leave or long-term disability insurance. In addition, the plan also coordinates with states that have a short term disability program.
  • Return-to-Work Programs: Some policies include programs to help employees transition back to work.
  • Coverage Duration: Provides income replacement for employees unable to work due to a long-term disability, typically lasting until retirement age or a specified term.
  • Benefit Amount: Generally replaces a percentage of the employee’s salary, often around 50-70%, up to a maximum monthly amount.
  • Eligibility: Employees must meet specific criteria, such as full-time status and a minimum length of employment, to qualify.
  • Waiting Period: There is usually a waiting period (e.g., 3-6 months) before benefits begin.
  • Qualifying Conditions: Covers a wide range of medical conditions, including chronic illnesses, severe injuries, and mental health issues.
  • Claim Process: Employees must submit a claim with comprehensive medical documentation to receive benefits.
  • Premiums: Can be employer-paid, employee-paid, or a shared cost between both parties.
  • Tax Implications: Benefits may be taxable if premiums are paid by the employer. Benefits may be tax free if premiums are paid by the employee with post tax dollars.
  • Rehabilitation Services: Often includes services to support rehabilitation and return-to-work efforts.
  • Cost of Living Adjustments (COLA): Some policies include adjustments for inflation to maintain the purchasing power of the benefits.
  • Integration with Other Benefits: Coordinates with other disability benefits, such as short-term disability insurance and Social Security Disability Insurance (SSDI).
  • Partial Disability Coverage: Some policies offer benefits for employees who can only work part-time due to their disability.

How to get started

Getting started with Matrix Insurance Agency is easy! Contact us to schedule a consultation where we will assess your needs and tailor our services to fit your organization. From there, we’ll guide you through the setup process, ensuring a smooth transition and effective management of your benefits programs.

Initial Consultation

Let’s have a conversation to understand what your group looks like and what your goals and needs are for your benefits package.

Solution Analysis

We take the information we gathered from you and compare it against multiple insurance options to source the best plan for your group.

Plan Selection

Armed with information and options, we’ll help guide you on the best plan selection to create the program you have envisioned for your employees.