What is WIA insurance?
Your employees are the heart of your company. What do you do if one or more employees become (long-term) disabled? The moment one of your employees becomes disabled, as an employer you are obliged to continue paying wages for the first two years. After two years, the employee will receive WIA benefits. You may consider taking out additional WIA insurance. But what exactly is WIA insurance? In this article at Alpina.nl we will tell you more about taking out WIA insurance.
What is WIA?
WIA stands for Work and Income (Ability to Work) Act. This is the law for occupational disability. As soon as your employee has been incapacitated for more than 2 years, the employer's mandatory continued payment of wages stops. In that case your employee falls under the WIA. He will then receive a WIA benefit from the UWV.
What is WIA insurance?
If, after two years of continued payment of wages, your employee ends up in the WIA, the UWV will pay him a statutory WIA benefit. As an employer, you can also take out WIA insurance for your employees. WIA insurance is a supplement to the WIA benefit that your employee receives in the event of long-term occupational disability. By taking out WIA insurance, you actually provide an extra financial safety net for your staff.
WIA insurance: WGA and IVA
The Work and Income (Capacity for Work) Act consists of two types of benefit: the WGA (Work Rehabilitation for the Partially Disabled) and the IVA (Income Support for the Completely Disabled).
- Resumption of work by the partially disabled (WGA)
An employee receives a WGA benefit if he has been ill for 2 years or more and is incapacitated for work between 35% and 80%. Also if your employee is more than 80% incapacitated for work, but with a chance of recovery, he will receive a WGA benefit.
- Income Support for the Totally Disabled
The employee receives an IVA benefit if he is completely and permanently disabled. In that case, the employee is unable to work or can work only very little and there is a very small chance that he will recover. The percentage of incapacity for work is more than 80%.
Am I required to take out WIA insurance?
No, as an employer you are not legally obliged to take out WIA insurance. It is up to you whether or not you offer WIA insurance to your staff. However, a number of collective labor agreements (CAOs) stipulate that you must take out WIA insurance. You can offer WIA insurance on a collective basis. Your employees can then decide for themselves whether they want to participate in the insurance or not.
Taking out WIA insurance? Request a quote directly on Alpina\.nl
WIA insurance reduces your employee's risk of financial hardship. Therefore, WIA insurance is often seen as a good fringe benefit and a sign of good employment practices. Before you take out such insurance, you will of course want to know what you will pay in premiums. On Alpina.nl you can therefore request a no-obligation quote for WIA insurance. Based on a number of details about your organization, we can give you an accurate quote. Do you have any questions about taking out WIA insurance? Then be sure to contact us! Our insurance specialists will be happy to help you.
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