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Short-Term Disability (STD)
Why is self-funding short-term disability
important to large employers? Our own statistics show that on average 7 1/2 %
of our clients workforce will be out on short-term disability (STD) at any
given time. With that in mind, self-funding STD is a sensible decision for
large employers due to finite duration and predictability of risk. In the
majority of cases, self-funding will be less expensive than insurance and
provide much more flexibility.
All attempts to manage disability must begin as
early as possible, and the application for STD benefits generally starts the
process. Sedgwick CMS organizes the administration of all absence and disability benefit
plans with particular emphasis on process efficiency and outcomes management.
Sedgwick CMS excels at both the clinical management and
the adjudication process to ensure accurate and timely decisions, and also
exceeds expectations in our ability to exchange data with our clients and
vendor partners.
Payroll feeds to multiple pay centers,
eligibility feeds, data transfers from and to health care vendors, and workers
compensation administrators -- all of the day-to-day activity essential to
achieving world class benefit administration.
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