It's almost open enrollment time for insurance at my work and they are offering us disability insurance now. The paperwork says it will cover maternity leave and provide income during this time. I don't have the price for it yet but I just wondered if anyone else has done this.
We just started TTC and know without a doubt that we'll both need to work to make ends meet with a baby.
If you've gone this route- was the cost really high? did it really cover income during maternity leave? was it complicated to deal with?
Any info would be helpful! Thanks!
Children's librarian, married to J since 5/12, with 3 and 1 crazy . TTC #1, planning on , , and .
Its not high maybe 3$ every two week. It also depends on the insurance plan.
With my son I had to stop work at 8 weeks. They paid me though my whole pregnancy and 8 weeks postpartum. It was amazing. It was so nice to not have to worry about $$ when I was in the hospital for months.
I would definitly go for it!
Do it. The cost is usually low and you should always, always opt into disability insurance plans. You never know what the future will bring. And if it covers maternity, even better.
I was disappointed in my short-term disability because I was misled as to what it would provide. As long as you speak to HR and they are clear then I would say definitely go for it. It covered about 4 weeks of my 12 weeks, which ended up being a pretty big chunk of money and I paid the other 8 weeks (partially) out of my sick/vacation/leave hours so I wasn't getting my full pay during that time because I didn't have enough hours saved for the whole 8 weeks. It was nice to not have to spread them even thinner over 12 weeks. It ended up being worth the cost because I only pay something like $12 a month for my short-term disability.
Homebirthing | Babywearing | Clothdiapering | Cosleeping | Mama
Overall, I vote yes as long as the cost is reasonable (or free as an employee benefit) but like the PP, I was really shocked and disappointed when I discovered how little coverage it provided. I worked at a publicly traded company at the time with a good benefit package.
My memory is hazy on the exact numbers but from what I remember, it didn't kick in until I was off for 4 weeks. During that 4 weeks, I was required to use all available paid time off, which wasn't a problem because I had tons of time off.
The short term disability payments kicked in for weeks 5 and 6 only. Had I not had enough paid time off, I would have gotten nothing for the first the first 4 weeks and payments only for weeks 5 and 6.
Don't get me wrong, something was better than nothing but this particular benefit wasn't as valuable is I was led to believe by the HR department. The "6 weeks for short-term disability" for maternity leave ended up being two weeks of partial pay, I think it was 70% of regular salary.
We offer short-term disability plans at my work and the cost and coverage really varies depending on how much income you want to replace and for how long. Read the fine print very carefully so you know exactly what to expect.