Accidents happen, and when they do, employers must be prepared for the possibility that an employee may miss several weeks of work. Many businesses offer short-term disability insurance to workers to manage costs, and employee benefit consultants can provide companies a collection of options to meet their organizational needs.
Short-term disability insurance pays employees a fraction of their total salary if they are unable to work due to an illness or injury. A worker may receive between 40 to 65 percent of their base compensation from short-term disability insurance, according to the Life and Health Insurance Foundation for Education. Employees can receive the compensation immediately after suffering a short-term disability, and the National Association of Insurance Commissioners estimates workers can receive benefits for three to six months.
Offering short-term disability insurance can prove beneficial to employers and workers. Employers do not pay an employee's full salary when he or she is unavailable to work, while a worker can receive partial compensation during the recovery period.
Businesses can hire employee benefits consulting firms to evaluate their organization's insurance needs. Consultants can provide assistance in a variety of areas to help employers and employees manage expenses.
