Deadline to Privatize New Jersey TDB Approaches: Are you Ready?

As the end of the first financial quarter rolls around, the deadline for New Jersey business owners to renew or privatize temporary disability benefits in New Jersey is coming up fast. If you want to switch private plans or move your statutory disability coverage from the state to a private New Jersey TDB plan, you must make the move by April 1.

We’ve all seen in 2020 how fast time moves. It seems like just yesterday that businesses across New Jersey shut down to flatten the curve of the coronavirus pandemic. Here we are in 2021 and businesses, especially restaurants, bars, and retail operations, continue to struggle.

Here’s How to Save Money in 5 Minutes or Less

If you could shave up to 20% off one of your regular bills, wouldn’t it make sense to do so? Privatizing temporary disability benefits in New Jersey helps you protect against rate increases that may be introduced by the state and can save you 20% or more off your current TDB premiums.

If you’re already with a private plan, EZTDB’s expert insurance agents can shop around to help you find a lower rate and better service. With more than 45 years in the statutory insurance industry, we have relationships with top carriers in order to negotiate the lowest rates. We pride ourselves on the white glove service we offer to our customers.

 EZTDB writes benefits for more than 100,000 New Jersey business owners, insuring more than 1.7 million lives. You only have until April 1, 2021, to make the decision to privatize TDB or to switch private plans. First quarter premiums are due by April 1.

How to Privatize TDB in New Jersey

Privatizing temporary disability benefits in New Jersey is easier than ever before, and EZTDB is here to help if you need assistance along the way.

First, visit the New Jersey Department of Labor and Workforce Development Division of Employer Accounts and create an Employer Access account (formerly called TWES). Within the portal, employers can find their AC174.1 form required to get a quote for a TDB private plan. The form details employer contributions to TDB and the employer’s final disability rate.

Along with this information, we’ll need the number of lives, male and female, and their salaries, within the organization. From there, an EZTDB representative can quote your private plan from a top-rated carrier.

You may be able to save even more money by bundling ancillary benefits life dental, vision, and group life / AD&D coverage with their temporary disability benefits in New Jersey. Only 2% of business owners in New Jersey are taking advantage of this insurance “hack” to reduce their premiums and save money on a statutory benefit.

The opportunity to privatize TDB only comes along twice a year, so you don’t want to miss out. Get your free quote to privatize New Jersey TDB today.