Long Term Disability Insurance
Open Enrollment for 2024 benefits begins Monday, October 23, 2023, and continues through Wednesday, November 8, 2023, with benefit elections taking effect January 1, 2024. Stay tuned for our ‘Explore Your Benefits’ mailer that will be mailed in the fall. Note: new or continued health care and/or dependent care FSAs, must be elected during open enrollment each year.
Basic LTD
The University of Louisville provides Basic Long Term Disability insurance coverage to all active full-time employees working at least 30 hours per week at no cost. This basic benefit provides 60% of up to the first $100,000 of your pre-disability yearly salary, up to a monthly maximum benefit amount of $5,000.
Supplemental LTD (Buy-Up)
The University of Louisville offers an employee paid Supplemental Long Term Disability insurance coverage to all active full-time employees working at least 30 hours per week who earn $100,000 or more per year. This additional benefit provides up to a monthly benefit maximum of $5,000, with a combined maximum monthly disability benefit of $10,000.
Calculating a Supplemental Long Term Disability monthly premium
Example for a person with an annual salary of $150,000:
Enter portion of annual salary above $100,000 in the equation below
$50,000 ÷ 12 ÷ $1000 x $1.68 = $7.00 monthly premium
Supplemental Long Term Disability premiums are post-tax and paid through payroll deductions.