Income Protection – Henrico County Public Schools

Income Protection

Income protection programs offer employees the opportunity to replace their income during periods of disability.

Short-Term Income Protection

Henrico County Public Schools’ Short-Term Income Protection (STIP) program for VRS Plan 1 and VRS Plan 2 full-time employees and eligible part-time employees is administered by MetLife and coordinates with HCPS leave-balances. These employees can elect to purchase coverage when initially hired or during the annual open enrollment period. These employees may choose from three options: waiting periods of 42 days, 28 days or 14 days. Participating employees may use either their HCPS leave or MetLife STIP benefits during an absence of 90 days or less. STIP benefits provide 60% of an employee’s salary.

View the MetLife Short Term Income Protection brochure for more details.

VRS Hybrid Plan employees may choose to enroll with MetLife for the first 12 months of employment. After 12 months of employment, VRS Hybrid Plan employees are automatically covered with a short-term disability benefit administered by the Standard at no cost to the VRS Hybrid Plan employee. View The Standard Hybrid Disability Program brochure for details.

Long-Term Income Protection

Henrico County Public Schools’ Long-Term Income Protection (LTIP) program is administered by MetLife for employee absences beyond 90 days. VRS Plan 1 and VRS Plan 2 full-time employees who have completed six months of employment are automatically members in the LTIP program. For these employees, MetLife provides coverage for up to a $50,000 annual salary at no charge. If your salary is above $50,000 and you have been employed at least six months, you may be eligible to purchase additional coverage for the remainder of your salary. Long-term income protection benefits provide 60% of an employee’s salary.

View the MetLife Long-Term Income Protection brochure for additional details.

VRS Hybrid Plan employees have employer-paid long term disability benefits through the Standard. (VRS Hybrid Plan employees are not eligible for the MetLife Long-Term Income Protection program.) View The Standard Hybrid Disability Program brochure.