Why is self-funding short-term disability important to large employers?
Our own statistics show that on average 7 1/2 % of our client’s workforce will be out on short-term disability (STD) at any given time. With that in mind, self-funding STD is a sensible decision for large employers due to finite duration and predictability of risk. In the majority of cases, self-funding will be less expensive than insurance and provide much more flexibility. All attempts to manage disability must begin as early as possible, and the application for STD benefits generally starts the process. Sedgwick CMS organizes the administration of all absence and disability benefit plans with particular emphasis on process efficiency and outcomes management. Sedgwick CMS excels at both the clinical management and the adjudication process to ensure accurate and timely decisions, and also exceeds expectations in our ability to exchange data with our clients and vendor partners. Payroll feeds to multiple pay centers, eligibility feeds, data transfers from and to health care vendors, an
