Thirty percent of employees between the ages of 35 and 65 will become disabled for at least 90 days at least once during their working years. That costs organizations dearly in lost productivity; places a strain on the healthy work force to produce more to make up for the absence of the disabled employee; and decreases the morale of the healthy work force.
It also means you can count on a steady stream of short-term disability (STD) insurance claims. Do you know how much those claims cost your organization? Almost half of employers do not.
The reason. Most organizations treat disability as a payroll practice, making it difficult to determine costs. Yet those costs could be as high as 15 percent of your organization’s payroll, estimates the International Society of Certified (register to read more) Specialists (ISCEBS). And the Social Security Administration predicts a 37 percent increase in disability insurance claims as the wo...
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