Benefits may also be considered as tax free income & therefore retirement benefits. In case of delayed start, this benefit would be taxable in hands of employee.
About voluntary short term disability:
In voluntary short term disability the law requires employers to pay to an employee a portion of his or her weekly wage equal to one-half of the weekly wage of a worker who has worked continuously.
-It is a good way to use some unused time off
-Company would not have to pay you if you were on short term disability
-Employees get choice of taking benefits
Pros of voluntary short term disability:
Voluntary short term disability provides most benefits of self-employment (an employee will be able to work up to 37 weeks of the first year then 29 weeks in the second year) which is very good.
–Flexible & immediate application process–Confidentiality of information, coverage & payments–Able to continue receiving Social Security benefits if eligible
Pros of voluntary short term disability:
In voluntary short term disability vacation time is typically preserved – you can take as much time off as you need. You can retire early – if you have enough years of service and have good time.
–Not all employers allow for voluntary short term disability benefit to be used as a substitute for the coverage of health insurance (insurance programs).
Cons of voluntary short term disability:
In voluntary short term disability you may have to pay tax on the benefit. There will be no automatic right to return to work by the holder. It will take some up to six months to get back pay due.