My Financial Wellness: Disability Insurance

My Financial Wellness

Disability Insurance

A disabling illness or injury can interrupt your ability to support your family. To help protect you, CVS Health provides the following coverages automatically to you at no cost:

Short-term disability (STD) coverage, which covers a percentage of your annual benefits base rate (ABBR) for up to 26 weeks.
Long-term disability (LTD) coverage, which provides a benefit of 40% of your ABBR for disabilities that continue beyond 180 days.

You may purchase the following optional colleague-paid coverages if eligible and/or approved by the carrier:

LTD buy-up coverage, which provides an additional benefit of 20% of your ABBR for disabilities that continue beyond 180 days.
Individual Disability Insurance (IDI) provides an additional benefit of up to a combined 66.67% of your ABBR as a tax-free benefit.

You can see your personalized rates and ABBR on the enrollment website during the enrollment period.

Here are highlights of your disability coverage.

Type of Coverage	Key features
Company-provided STD Coverage	After a seven-day waiting period, STD coverage pays: 80% of your ABBR for the first six weeks of certified disability 60% of your ABBR for the next 19 weeks of certified disability
Company-provided LTD Coverage	After a 180-day waiting period, LTD pays 40% of your ABBR, up to $10,000 per month. This benefit is taxed when paid.
Optional LTD Coverage	This is optional coverage you can purchase, premiums are taken out of your paycheck on an after-tax basis. After a 180-day waiting period, optional LTD coverage pays an additional 20% of your ABBR¹ up to a combined (company-provided and optional coverage) LTD maximum of $15,000 per month. Since you pay premiums for this coverage on an after-tax basis, the benefit is not taxed when paid. Proof of good health isn’t required if you enroll during your new hire enrollment period. Proof of good health is required if you newly enroll during annual enrollment after having waived coverage in the past.
Individual Disability Insurance (IDI)	If your ABBR is $100,000 or more and you have not previously declined IDI coverage, you're eligible to purchase IDI through Unum. IDI coverage provides up to an additional $10,000 monthly tax-free benefit. If you are eligible for or are currently enrolled in an individual policy, you'll receive additional information about this coverage directly from Unum.

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This website provides an overview of benefits for CVS Health colleagues and is for informational purposes only. If there's any difference between this website and plan documents, official plan documents will govern. CVS Health reserves the right to amend, modify or terminate all or part of its benefits plans at any time. This description isn't an employment contract or guarantee. Colleagues may need to meet certain eligibility requirements to participate. Colleague contributions are not used to pay plan expenses for vendors or other service providers that are subsidiaries of CVS Health, except as may be permitted by ERISA. Union colleagues aren't covered unless their collective bargaining agreement specifically provides for a benefit.