Recuperating from surgery? Having a baby? From short-term absences to serious illnesses or injuries that prevent you from working for years, coverage is available.
Short-Term Disability (STD)
If you are going to be absent from work for more than seven days because of maternity or a non‑occupational injury or sickness, you may be entitled to STD benefits. However, your disability must be certified by a qualified physician and approved by Ricoh’s disability insurance carrier before STD benefits are paid.
The Hartford will be Ricoh’s short-term disability carrier. Ricoh pays the full cost of basic STD benefit coverage. Basic STD coverage is equal to 50% of your Annualized Benefits Salary (ABS) and payable for 26 weeks while you are disabled. You may also choose to increase your income protection and elect to purchase, at your cost, supplemental STD coverage (Buy-Up coverage) for the higher monthly maximums, as summarized below:
STD Basic Benefit Option (50% ABS): Maximum weekly benefit of $1,500 for up to 26 weeks
STD “Buy-Up” Option (66.67% ABS): Maximum weekly benefit of $4,000 for up to 26 weeks
Any STD benefits you receive under OnePlus will be reduced by Social Security disability benefits and other similar benefits, such as worker’s compensation, that you may be eligible to receive while you are disabled.
The STD Plan contains a pre-existing condition exclusion that limits the eligibility of certain employees to receive STD benefits.
For newly hired employees, this pre-existing exclusion period includes the 30 days prior to employment by Ricoh. If an employee suffers a disability during the first 12 months after STD coverage becomes effective that is determined to be a pre-existing condition, this disability will not be covered under the STD Plan. For current employees, the pre-existing condition exclusion applies to any employee who elects STD Buy-Up coverage, but it applies only to the additional STD Buy-Up coverage. For example, an employee with a pre-existing condition based on treatment received anytime during the three months just prior to January 1 will not be eligible for any STD Buy-Up coverage for that disability related to the pre-existing condition, but rather will receive STD benefits at the basic coverage level for that disability.
Long-Term Disability (LTD)
If you become disabled, you may be eligible to receive LTD benefits after the first 180 days of the disabling condition. Your disability will need a qualified physician’s certification and approval by Ricoh’s disability insurance carrier, before LTD benefits are paid. Ricoh pays the full cost of basic LTD benefit coverage. Basic LTD coverage is equal to 50% of your Annualized Benefits Salary to certain maximum monthly benefits, depending on your length of service with Ricoh. You may elect to purchase, at your cost, supplemental LTD coverage (Buy-Up coverage) equal to 66.67% of Annualized Benefits Salary to a higher maximum monthly benefit. Any LTD benefits you receive under OnePlus will be reduced by Social Security disability benefits and other similar benefits, such as worker’s compensation, that you may be eligible to receive while disabled. The Hartford will be Ricoh’s long-term disability carrier.
A Summary of LTD Benefits
The LTD plan also contains a pre-existing condition exclusion that limits the eligibility of certain employees to receive LTD benefits.
For newly hired employees who become eligible for LTD benefits, pre-existing condition exclusion is also in place under the LTD plan. For current employees, the pre-existing condition exclusion applies to any employee who elects LTD Buy-Up coverage, but it applies only to the additional LTD Buy-Up coverage. Employees who receive any treatment just prior to January 1 will not be covered for any LTD Buy-Up coverage for that disability related to the pre-existing condition, but rather will receive LTD benefits at the basic coverage level for that disability.
You must be actively employed as of January 1, 2021 to receive STD and LTD coverage in 2021. If you enroll for 2021, but are not actively employed as of January 1, 2021—you are on a leave of absence, for example—any benefits payable to you or your beneficiary will be based on the coverage amount in effect in 2020. Once you return to active employment in 2021, your 2021 coverage amounts will take effect provided you made all required premium payments during your leave.
LTD Basic Benefit Option: 50% of ABS with a maximum monthly benefit of $5,000
LTD “Buy-Up” Option: 66.67% of ABS with a maximum monthly benefit of $11,000
Imputed Income for Disability
The IRS requires that the value of STD and LTD benefits be added to your taxable income as imputed income. This allows you to receive this benefit tax free if you ever need to use it. You will see this listed on your paycheck as “Imputed Income.”
Pre-Existing Conditions and Disability
For the STD and LTD plans, a pre-existing condition is any medical condition for which you have received medical treatment, medical advice, care or services, including diagnostic measures, or for which you took prescribed drugs or medicines in the three months immediately prior to the effective date of coverage.
This overview serves as a summary on various Ricoh 2021 benefit plans. It is intended to provide an overview of information about some of the benefits you may be eligible for through Ricoh. If there is a discrepancy between the information displayed and the official plan documents, the official plan documents will govern.