5 Reasons to Privatize Your New Jersey TDB Coverage
Business owners have choices when it comes to New Jersey TDB (Temporary Disability Benefits.)
You can buy through the state or through top-rated private insurance carriers.
Right now, 98% of New Jersey business owners purchase their disability insurance benefits through the state. Only 2% understand the tremendous rewards that come with purchasing through a private carrier. Let’s explore five reasons why you should consider purchasing your New Jersey TDB coverage through a private plan.
Generally, employees filing a claim through the state have to wait a month before receiving their first check. With private temporary disability insurance in NJ, they can get their first check just 7 days after filing the claim.
Also, they can select their preferred payment option, such as debit card or check. They can also determine a schedule for their disability income so that they stick to their already-established budget.
Extended Customer Service
The Department of Labor Temporary Disability Insurance customer care center is open from 8 am to 5:30 pm on Monday and Tuesday, and from 8:30 to 4:30 Wednesday through Friday.
If you or your employees have questions outside of these hours, you’re out of luck. On the other hand, your private insurance carrier typically has extended hours where you can get 24/7 claims service by phone or online.
EZTDB has an easy-to-use online chat and we welcome questions at any time.
Better Quality Service with Private TDB
Government organizations usually involve low-quality services, slower response time, and a plethora of red flags. Look at the difference between Amazon or UPS shipping and the U.S. Postal Service as one example. Or if you’ve ever waited in line at DMV during peak hours, you understand the struggle of finding good customer service when it comes to government offerings.
On the other hand, by working with private carriers, you will receive higher quality service. Private representatives are always happy to help you or your employees through the claims process, answer questions, and help you choose the best plan for you and your employees.
Lock in Low Rates
Every November, the NJSIF announces TDB rates for the coming year. The rates may go up or down. If they go up, you will be locked in with those rates for the year. In 2020, the State of NJ announced a substantial premium rate hike that will take more money out of the pockets of New Jersey workers and businesses with NJ employees.
However, you may be able to lock in lower rates for up to three years when you privatize your New Jersey TDB coverage.
Save More by Bundling New Jersey TDB with Ancillary Benefits
When you’re ready to join the 2% of smart New Jersey business owners who privatize their TBD coverage, you can also save more money by evaluating the rest of your employee benefits.
Bundle New Jersey TDB with voluntary ancillary benefits such as vision, dental, long-term disability, and Group Life/AD&D to create enticing employee benefits packages. Best of all, because these are employee-funded, voluntary benefits, you can provide robust coverage for your workers with no out-of-pocket costs… and save more on your New Jersey TDB, too!
Let EZTDB connect you with one of the best disability insurance companies to help you shave costs off your New Jersey TDB plan.