In case of a serious illness, injury, or disability, Medtronic provides two types of disability benefits: salary continuation, also known as short-term disability, and long-term disability.
Salary Continuation [Short-Term Disability (STD)]
You’ll receive salary continuation if you miss more than seven consecutive calendar days of work due to illness, injury, or disability. All or part of your salary will continue for a maximum of 26 weeks. For the first eight weeks, you’ll get 100% of your salary (after the seven calendar days) and 70% for the remaining weeks.
Long-Term Disability (LTD)
If you remain ill or injured for a longer period of time, Medtronic provides long-term disability coverage. You’ll receive basic coverage at no cost, and will also have the option of purchasing additional disability coverage.
|Basic (Company-Paid)||Optional (Employee-Paid)|
|50% of ABBR to $12,500 maximum per month|
- Option 1: 60% of ABBR to $15,000 maximum per month
- Option 2: 66 2/3% of ABBR to $23,250 maximum per month
Good to Know
Annual Benefits Base Rate (ABBR) = base salary as of January 1 plus a 3-year average of variable pay (i.e., commissions, Medtronic Incentive Plan (MIP), etc.).