Disability

Disability benefits help protect you by providing a portion of your income during times when you are unable to work due to a qualifying disability. Five9’s Short-Term Disability (STD) and Long-Term Disability (LTD) plans provide for income replacement in the event you become disabled, at no cost to you.

Because Five9 pays the premiums, if you become disabled, any approved benefits payable to you are considered Taxable Income.

To change the taxable nature of your STD and/or LTD benefit, you have the option to make an election to pay taxes on the STD/LTD premium (instead of the paid disability benefits) that is paid on your behalf by Five9. Five9 offers a ‘Tax Choice’ for disability benefits:

Elect Tax Choice: The premium Five9 pays is included in your taxable income, you pay tax on this taxable income. If you become disabled, there would be no taxes payable on the paid benefits you receive.

Decline Tax Choice: The premium Five9 pays on your behalf will be non-taxable. However, if you become disabled, the paid benefits you receive are taxable. Elections are made independently; you do not have to have the same Tax Choice for both STD and LTD. You will have the opportunity to elect your tax choice during New Hire Enrollment and during an Open Enrollment period.

Short-Term Disability (STD)

  • You are eligible to receive STD benefits after you have been disabled for 7 days due to a non-work-related illness or injury.
  • Replaces up to 60% of your eligible income, up to a maximum of $2,500 per week.
  • Benefits end after 12 weeks.

      Long-Term Disability (LTD)

      • You are eligible to receive LTD benefits after 90 days of disability. 
      • Replaces up to 60% of your eligible income, up to a maximum of $10,000 per month until you recover or reach your Social Security Normal Retirement Age, whichever is sooner.