Supplemental coverage for disability that lasts more than 26 weeks.
You can purchase supplemental coverage of an additional 15% of total pay (base salary, bonus and commission), resulting in a combined benefit of 75% of total pay (base salary, bonus and commission). You pay the cost of supplemental LTD through after-tax payroll deductions. Evidence of Insurability is not required to purchase this coverage. Due to the monthly benefit maximum of $15,000 for both basic and supplemental LTD, there may be no change in your gross LTD coverage amount if you select the supplemental option. However, your net monthly benefit may be greater with the supplemental LTD option because you will be paying for a portion of the total benefit with after-tax dollars.
LTD benefits will be offset by Social Security, Workers’ Compensation and any other statutory benefits available to you. The overall maximum benefit—a basic and supplemental insurance combined maximum—payable under this plan is $15,000 per month. If you live in California, New York, New Jersey or Hawaii, you may be eligible for state disability benefits.
If you have questions about Supplemental LTD or need more information, take a look at the plan documents on MyBMC Rewards website and click on the Plan Documents tile.