Hybrid Disability coverage protects against income loss if you are unable to work because of physical disease, mental disorder, injury, or pregnancy.
Since 2014, Virginia’s public entities have had a choice on how to provide these benefits to Virginia Retirement System (VRS) Hybrid Retirement plan members. Some chose to continue using the VRS Hybrid Retirement Plan provided through the state, while others decided to utilize a comparable plan of employer-paid long-term and short-term disability insurance for Hybrid Plan employees.
A lot has changed for public entities since that time. Your hybrid membership may have increased, your needs have changed, or you may still be operating with two leave programs – the old and the new.
If you are taking a fresh look at your benefit programs, rest assured that VRSA continues to offer a comparable program, in partnership with Marsh McLennan Agency (MMA-Richmond) and the insurance professionals at Lincoln Financial.
This program meets all requirements of 51.1 of the Code of Virginia, our program:
- Manages and administers your self-insured short-term disability benefits;
- Fully insures and supports your long-term disability plan, and makes sure benefits properly integrate with any VRS retirement disability benefits; and
- Analyzes your overall leave program to develop a streamlined system that will better serve your entire workforce.
And, unlike the state plan, the VRSA/Lincoln platform offers flexible plan design options. They include:
- The option to eliminate the 12-month eligibility waiting period for disability, or you can leave it in place. Make the best choice for your budget and your employees’ needs.
- The option to provide coverage for your public safety employees. This could be a safety net in the event a claimant does not qualify for VRSA or Line of Duty Act (LODA) disability benefits.
Interested? Reach out to your VRSA coverage specialists at 800-963-6800. They will help you get started and make sure you:
- Understand how your disability plan is meant to work;
- Are properly equipped to communicate the benefits to your workforce;
- Know how to submit and monitor disability claims;
- Have access to Lincoln’s customer service team and online support tools; and
- Receive the guidance and expertise you need to maximize the effectiveness of your paid leave program.