Short-Term Disability (STD)
Your weekly STD benefit is a percentage of your pre-disability earnings, reduced by deductible income. For more details on your STD benefits, see the Summary Plan Description (SPD) located on My Benefits.
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Disability
Disability coverage offers paycheck protection for you and those you love if the unexpected happens.
Long-Term Disability (LTD)
Nestlé automatically provides basic LTD at no cost to you. LTD is your paycheck protection in the unfortunate event you are disabled for more than six months. Basic LTD from Nestlé, and purchasing supplemental buy-up coverage, can provide financial protection for you and those you love if the unexpected happens. New York Life is the administrator of this plan.
Basic LTD
Nestlé-provided basic LTD covers 50% of your base pay plus bonus if you’re not able to work (up to $1,250 per month).1
Supplemental Buy-Up LTD
Employees must elect Supplemental LTD during their eligibility period as a new hire or during Annual Enrollment2 This increases your coverage to 60% of your base pay plus bonus (up to $15,000 per month benefit).3
If you become disabled and continue to meet requirements, benefits may continue up to normal Social Security retirement age.
1Basic LTD payments may continue for up to five years and are a taxable benefit.
2If you’re enrolling for the first time, the plan may not pay benefits for a pre-existing condition that started during the three months before your coverage began.
3Because Nestlé pays for the Basic LTD coverage, a small portion of your LTD benefit will be taxable.
See full Summary Plan Description for all details.
ELIGIBILITY
All Regular, U.S. NesCARE benefits-eligible employees working at least 30+ hours.
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Coverage for the Nestlé paid Basic LTD (if you are not currently enrolled in LTD) is subject to a Pre-existing Condition Limitation. Benefits will not be payable for any period of Disability caused or contributed to by or resulting from, a Pre-existing Condition. A “Pre-existing Condition” means any Injury or Sickness for which you incurred expenses, received medical treatment, care or service including diagnostic measures, took prescribed drugs or medicines, or for which a reasonable person would have consulted a physician within 3 months before your effective date of insurance.
The Pre-existing Condition Limitation will apply to any added benefits or increases in benefits. This limitation will not apply to a period of Disability that begins after you are covered for at least 12 months after your effective date of insurance, or the effective date of any additional added or increased benefits.
Additionally, any changes in coverage elections are not effective if you are on leave of absence until you return actively to work.