Disability

 

Income during a disability is important. Alcoa offers two disability plans to eligible full-time employees: short-term disability and long-term disability. Not all employees are eligible for both options. During Annual Enrollment, see your Enrollment Worksheet for the specific options offered to you. A "no coverage" option is not offered.

 

Short-Term Disability (STD)
Alcoa provides the lowest STD option to you at no cost. Your STD coverage options represent a weekly benefit based on a percentage of your base pay. Because the benefit you receive while on STD is based on your base pay, the price tags for coverage are calculated using your pay (up to a maximum of $200,000).The STD plan covers both occupational and nonoccupational injuries. Because you pay for STD coverage on a pre-tax basis, the benefits you receive from the plan are taxable.

 

Long-Term Disability (LTD)
If you are eligible, Alcoa provides the lowest LTD option to you at no cost. Your LTD coverage options represent a monthly benefit based on a percentage of your base pay. LTD benefits are payable after your short-term disability coverage of 26 weeks ends, or when you have been totally disabled for 26 weeks in any consecutive 12-month period and your STD benefits end.

 

The LTD plan provides benefits if you have a serious illness or injury that prevents you from working for an extended period. See your Enrollment Worksheet for the specific options offered to you. The benefit you receive while on LTD is based on your base pay, and the price tags for coverage are calculated using your pay (up to a maximum of $200,000).

 

Because you pay for LTD coverage on a pre-tax basis, benefits received under the plan are taxable.