Attention: Important benefits information related to Coronavirus disease 2019 (COVID-19) is available on the COVID-19 Employee Resources Page

Income Protection

Piedmont offers a variety of benefits to help keep you and your family financially secure in the event of an injury or death.

Disability

Short-Term Disability

  • Core STD coverage is provided to eligible part- and full-time employees at no cost to you.
  • For all employees: The plan replaces up to 60% of your base pay when you are disabled for fewer than 180 days. There is a 14-day elimination period before STD payments begin. To be paid during the elimination period, you must elect to use available PTO.
  • For new mothers: The plan replaces 100% of your base pay based on your medically certified disability time (following the 14-day elimination period, generally four weeks for a normal delivery and six weeks for a caesarian delivery). You will receive the 60% STD benefit while on leave and a 40% maternity benefit paid as a lump-sum within 30 days following your return to work.
  • For physicians and executives: The Disability Salary Continuance (DSC) Plan replaces 100% of your base pay for up to six months of a disability, including maternity leave.
  • Visit The Village for more information.

Short-Term Disability – Example

Annual Salary

$40,000

Piedmont-Paid Core STD Benefit

60% or $24,000

Long-Term Disability (LTD)

  • Core LTD coverage is provided to eligible full-time employees at no cost to you.
  • The plan replaces up to 50% of your base pay when you’ve been disabled for more than 180 days.
  • This benefit is offset by benefits you may receive from other sources, such as Social Security.
  • You also have the opportunity to purchase supplemental LTD coverage that pays an additional 10% of your base pay — for a 60% level of income protection.
  • The annual rate for supplemental LTD is $.0382 per $1.00 of coverage.
  • Visit The Village for more information.

Long-Term Disability — Example

Annual Salary

$40,000

Piedmont-Paid Core LTD Benefit

50% or $20,000 per year

Employee Optional Election

Buy-up LTD Benefit

10% of $40,000 = $4,000 per year

How the calculation works:

$4,000 x .0382 = $152.80 per year or $5.88 per pay period

Other Types of Leave

Living Donor Leave

Piedmont provides up to 30 days of paid leave for full- and part-time employees to use in conjunction with any Paid Time Off (PTO) or accrued extended illness bank (EIB) to serve as an organ donor, and up to seven days of paid leave to serve as a bone marrow donor. If you exhaust the 30-day Living Donor Leave allowance and you are still unable to return to work, you must contact the Cigna STD Claim Center at 800-362-4462 to confirm the duration of the disability and STD payments.

Bereavement Leave

Full- and part-time employees may take up to three days of paid, excused leave immediately following the death of an immediate family member. The same leave benefit applies for employees who experience the loss of a pregnancy.

Life Insurance

Basic Life and Accidental Death and Dismemberment (AD&D)

  • Basic Life and AD&D Insurance is provided at no cost to eligible full-time and part-time employees.
  • The amount of coverage is 1.5 times your annual base salary for Basic Life Insurance and an additional 1.5 times your base salary for AD&D Insurance.
  • The plan pays up to $500,000 each.

Basic Life and AD&D Insurance — Example

Annual Salary

$40,000

Piedmont-Paid Basic Life and AD&D Benefit

1.5 times your salary

How the calculation works:

$40,000 x 1.5 = $60,000 (Basic Life Insurance) And,
$40,000 x 1.5 = $60,000 (AD&D)

  • Physicians receive a death benefit equal to 2.5 times annual base salary, up to $2 million.
  • Executives receive a death benefit equal to 2.5 times annual base salary, up to $2 million.

Supplemental Life Insurance

  • If you purchase Supplemental Life Insurance, you have the option to buy up to four times your annual base pay for additional coverage.
  • The maximum amount of optional coverage is $600,000.
  • The premium for Employee Supplemental Life Insurance is $0.11 per $1,000 of coverage, per pay period.
  • Premiums are taken on an after-tax basis and are calculated based on the multiple of your base salary you elect as coverage.

Supplemental Life Insurance — Example

Annual Salary

$40,000

How much you elect:

2 times your salary
($40,000 x 2 = $80,000)

How the calculation works:

Your cost is $0.11 for every $1,000 of coverage
($0.11 x 80 = $8.80 per pay period)

Dependent Life Insurance

  • You can buy life insurance for eligible family members, including your spouse/domestic partner and child(ren) up to age 26.
  • If you and your spouse/domestic partner are both Piedmont employees, you cannot be an insured person and a dependent.
  • Dependent Child Life Insurance can be elected as a stand-alone policy (you do not need to be enrolled in Employee Supplemental Life Insurance to enroll).
  • Evidence of Insurability (EOI) is not required for Dependent Child Life Insurance.

Coverage for Spouse/Domestic Partner — Example

Your coverage amount

$80,000

Spouse/Domestic Partner’s coverage amount

One half your coverage amount, up to $100,000
($80,000 x .5 = $40,000)

Cost of coverage

$.0888 per $1,000 of coverage
($.0888 x 40 = $3.55 per pay period)

OR

Purchase a $25,000 flat amount: $3.82 per pay period

  • You may purchase $10,000 of coverage for each dependent child.
  • Only one eligible employee may cover dependent children up to age 26.
  • The premium is $1.18 per pay period for all of your eligible dependent children.
  • The $10,000 per child applies to all children, and you cannot elect different amounts for different children.
  • For example: If you have four eligible children, it will cost you a total of $1.18 per pay period for $10,000 of coverage on each child.
  • Premiums are taken on an after-tax basis and are calculated based on the multiple of your base salary you elect as coverage.

Income Protection Considerations

Evidence of Insurability (EOI)

  • If you are beyond your first 30 days of employment and have never elected Supplemental Life Insurance, you will be required to submit Evidence of Insurability (EOI) to the carrier.
  • EOI is required and must be approved before your coverage takes effect.
  • During Open Enrollment, if you already have Supplemental Life Insurance and would like to increase the amount, an increase of one multiple does not require EOI.
  • However, an increase of more than one multiple during Open Enrollment will require EOI (please contact an HR Representative at 678-503-1900 for more details).
  • EOI is not required for Dependent Child Life Insurance.

Life Insurance Beneficiary

  • When you enroll in your benefits, you must record your life insurance beneficiaries in the PeopleSoft Employee Self-Service (ESS) electronic form.
  • Your beneficiaries may be updated during Open Enrollment through PeopleSoft ESS.
  • After your enrollment period ends, you must contact an HR representative at 678‑503‑1900 to make beneficiary changes. You are always the beneficiary for any dependent life coverage.

Taxable Income

The IRS Code states that employer-provided Basic and Supplemental Employee Life Insurance benefits in excess of $50,000 may result in taxable income. This is known as “imputed income.” Imputed income must be reported on your W-2 and is included as earnings in your paycheck — subject to federal, state and FICA taxes each pay period.

The Effect of Changes in Pay on Insurance

The premium and coverage amount of Basic Life Insurance, Supplemental Life Insurance and Long-Term Disability will be updated each January using the annual salary in effect as of October 1 of the prior year.

Additional Health and Life Benefits

Hospital Indemnity Insurance

  • Owned by you, so you can keep your coverage should you retire or change jobs
  • Pays a $1,250 benefit when you’re admitted to a Piedmont hospital for a covered hospital stay
    • Pays a $1,000 benefit when you’re admitted to any other hospital for a covered stay
  • $187.50 for each day of your covered Piedmont hospital stay, up to 31 days
    • $100 for each day of your covered stay at any other hospital, up to 10 days
  • $187.50 for each day of covered Piedmont hospital intensive care confinement, up to 10 days
    • $150 each day of covered intensive care confinement at any other hospital, up to 10 days
  • Learn more

Accident Insurance

  • Owned by you, so you can keep your coverage should you retire or change jobs
  • Supplement to Piedmont’s health coverage
  • Cash benefits paid for a wide variety of accidental injuries including $150 for emergency room visits, $200 for major diagnostic testing, up to $7,500 for fractures, up to $1,500 for torn knee cartilage, tendons or ligaments and many more
  • Learn more

Whole Life Insurance

  • Owned by you, so you can keep your coverage should you retire or change jobs
  • Cash value of policy is a guaranteed amount that is guaranteed to pay
  • Your rate never changes, even as you age or as interest rates fluctuate
  • Long-Term Care payout of 50% of policy amount or 4% of policy amount per month
  • Up to $100,000 policy available without answering any medical questions
  • Learn more

Critical Illness Insurance

  • Owned by you, so you can keep your coverage should you retire or change jobs
  • Cash benefit upon first diagnosis of a covered critical illness
  • Up to $30,000 benefit available without answering any medical questions
  • $100 Health Screening Benefit on one test per year
  • Learn more

Additional Physician Benefits

Long-Term Disability

Physician Long-Term Disability (LTD) coverage is provided to all eligible physicians and company paid. Physician LTD is comprised of two policies:

Group Basic Long-Term Disability (LTD)

The Group policy provides a basic monthly benefit of up to $15,000 and covers 60% of your W-2 earnings.

Individual Disability Insurance (IDI)

The individual policy offers an additional layer of up to $20,000 of monthly benefit (guarantee issue with no medical underwriting) and is a portable policy. Both policies deliver a non-taxable benefit to our physicians. For this reason, the premiums paid on your behalf are taxable income to you.