What are Gap Inc.s Long-Term Disability Benefits?
Gap Inc.’s Long-Term Disability (LTD) benefits begin after your Short-Term Disability coverage has expired (or after 180 calendar days). These benefits replace part of your income if you are a full-time employee and become disabled due to a work or non-work related illness or injury. Gap Inc. offers two LTD benefit programs: LTD Plan: LTD Plan: The LTD Plan pays 55% of your base wages (less income you receive from other sources) to a maximum benefit of $25,000 per month. You are automatically enrolled in LTD if you are a full-time employee. Similar to STD, it’s important to note that this benefit is subject to Federal, FICA and state taxes. Read on to learn about the LTD Plus Plan tax-free option. LTD Plus Plan: The LTD Plus Plan pays 65% of your base wages tax-free. You need to enroll in this plan and pay a premium, which covers the cost of increasing your coverage from 55% of your wages (paid by Gap Inc.) to 65%. Your premium amount will depend on your salary and age, and will be tak
