Conga provides coverage to help protect your income in the event of a disability.
Short-Term Disability
Conga provides Company-paid coverage that pays you a disability benefit for up to 26 weeks.
DISABILITY INSURANCE
Overview
The loss of income due to illness or injury can cause serious financial hardship for your family. Disability insurance, provided through Lincoln Financial (One-time registration code: CONGA) replaces a portion of your income to help you continue paying your bills and meeting your financial obligations during this difficult time.
Long-Term Disability
Long-term coverage protects you from the financial impact of an extended disability.
Short-Term Disability
The Short-Term Disability (STD) plan is designed to provide you with income if you are unable to work due to injury, illness, or other eligible event, including maternity.
| Who pays for the benefit | Conga |
| Administrator | Lincoln Financial (One-time registration code: CONGA) |
| Elimination period | Benefits begin after seven calendar days of disability |
| Amount of the benefit | 60% of your base weekly salary* for up to 26 weeks STD benefits will be offset by other disability payments you may be eligible for, such as state disability insurance in California, Hawaii, New Jersey, New York, Rhode Island, and Washington, whether or not you apply for it. *Doesn’t include commissions, bonuses, overtime pay, and other extra compensation. |
| Maximum weekly benefit | $2,500 per week |
| Taxation of Benefit | You have an option as to whether to receive a taxable or non-taxable benefit:
To see the different impact between the two options, click here: If you don’t actively make an election, you’ll be defaulted into the taxable benefit option. |
| Who pays for the benefit | |
|---|---|
| Conga | |
| Administrator | |
| Lincoln Financial (One-time registration code: CONGA) | |
| Elimination period | |
| Benefits begin after seven calendar days of disability | |
| Amount of the benefit | |
| 60% of your base weekly salary* for up to 26 weeks TD benefits will be offset by other disability payments you may be eligible for, such as state disability insurance in California, Hawaii, New Jersey, New York, Rhode Island, and Washington, whether or not you apply for it. *Doesn’t include commissions, bonuses, overtime pay, and other extra compensation. | |
| Maximum weekly benefit | |
| $2,500 per week | |
| Taxation of Benefit | |
You have an option as to whether to receive a taxable or non-taxable benefit:
|
Long-Term Disability
The Long-Term Disability (LTD) plan is designed to provide you income if you are unable to work for a period longer than 26 weeks due to injury or illness.
| Who pays for the benefit | Conga |
| Administrator | Lincoln Financial (One-time registration code: CONGA) |
| Elimination period | Benefits begin after 180 days of disability |
| Amount of the benefit | 60% of your base monthly salary* *Doesn’t include commissions, bonuses, overtime pay, and other extra compensation. |
| Maximum monthly benefit | $12,000 per month |
| Taxation of Benefit | You have an option as to whether to receive a taxable or non-taxable benefit:
To see the different impact between the two options, click here: If you don’t actively make an election, you’ll be defaulted into the taxable benefit option. |
| Who pays for the benefit | |
|---|---|
| Conga | |
| Administrator | |
| Lincoln Financial (One-time registration code: CONGA) | |
| Elimination period | |
| Benefits begin after 180 days of disability | |
| Amount of the benefit | |
| 60% of your base monthly salary* *Doesn’t include commissions, bonuses, overtime pay, and other extra compensation. | |
| Maximum monthly benefit | |
| $12,000 per month | |
| Taxation of Benefit | |
You have an option as to whether to receive a taxable or non-taxable benefit:
|
Taxability of Your Disability Benefit
You have the option to count premiums paid on your behalf by your employer as taxable income in exchange for a tax-free disability benefit. Below is an illustration of your options.
- Choose the taxable benefit. You will have no additional funds taken from your paycheck. When you file a claim for Short or Long Term Disability, your paid disability benefits will be treated as regular income and will be taxed.
- Choose the non-taxable benefit. Premiums paid on your behalf will be treated as imputed income, and (very small, usually less than $1) additional taxes will be taken from your paycheck. When you file a claim for Short or Long Term Disability, your paid disability benefits will be paid to you free of taxes.
Example:
- An employee making $50,000 per year is eligible for a weekly short-term disability benefit of $576.93.
- The employee currently pays a tax rate of 20%.
- Below is an illustration of this employee's two options:
| Taxable Benefit Option | Non-taxable Benefit Option | |
|---|---|---|
| Weekly STD Benefit | $576.93 | $576.93 |
| Additional taxes paid per month in regular paycheck | $0.00 | $0.45* |
| Additional taxes paid per week out of paid benefits | $115.39 | $0.00 |
| Actual paid STD benefit per week | $461.54 | $576.93 |
*Assumes $2.25 of employer-paid premium paid for the coverage, multiplied by the tax rate of 20%.
Note: Please note that the above example is for illustration purposes only.
Taxability of Your Disability Benefit
You have the option to count premiums paid on your behalf by your employer as taxable income in exchange for a tax-free disability benefit. Below is an illustration of your options.
- Choose the taxable benefit. You will have no additional funds taken from your paycheck. When you file a claim for Short or Long Term Disability, your paid disability benefits will be treated as regular income and will be taxed.
- Choose the non-taxable benefit. Premiums paid on your behalf will be treated as imputed income, and (very small, usually less than $1) additional taxes will be taken from your paycheck. When you file a claim for Short or Long Term Disability, your paid disability benefits will be paid to you free of taxes.
Example:
- An employee making $50,000 per year is eligible for a weekly short-term disability benefit of $576.93.
- The employee currently pays a tax rate of 20%.
- Below is an illustration of this employee's two options:
| Taxable Benefit Option | Non-taxable Benefit Option | |
|---|---|---|
| Weekly STD Benefit | $576.93 | $576.93 |
| Additional taxes paid per month in regular paycheck | $0.00 | $0.45* |
| Additional taxes paid per week out of paid benefits | $115.39 | $0.00 |
| Actual paid STD benefit per week | $461.54 | $576.93 |
*Assumes $2.25 of employer-paid premium paid for the coverage, multiplied by the tax rate of 20%.
Note: Please note that the above example is for illustration purposes only.