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Voluntary Insurance Programs Offer Extra Benefits to Your Employees


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When it comes to employee benefits, it's unlikely that your employees would say, "less is more." But, with the rising cost of employee health insurance and other costs involved in recruiting and retaining staff, most organizations don't have funds to add and cover extra benefits. 

With a voluntary insurance program, you can offer your employees a number of extra benefits at no cost to your business. Here's how it works:

  1. Your business agrees to offer voluntary benefit plans to employees.

  2. You work in collaboration with your benefits consultant to choose insurance companies that offer plans you think would appeal to your business' employees.

  3. Employees pay for their chosen benefits through payroll deduction, set up through your business and your vendor.

  4. Employees work directly with your insurance consultant and the insurance company to administer the plans and submit claims.

Voluntary insurance programs allow employees to enroll in valuable benefit and insurance plans like these:

  • Critical illness or cancer plans 

  • Accident plans

  • Hospital indemnity plans

  • Dental insurance

  • Vision insurance

  • Life insurance

  • Disability insurance

  • Auto insurance

  • Homeowners or renters insurance

In addition to perceived additional benefits through the company, these programs at your business offer employees a number of attractive features:

  • Cost savings: employees who purchase plans through your insurance consultant receive a discounted group rate on purchases

  • Convenience: employees can pay through payroll deduction; depending on plans purchased, employees may be able to pay with pre-tax funds, flexible spending accounts, or health savings accounts

  • Peace of mind: employees with high deductible plans or other gaps in coverage can choose benefits that resolve the shortcomings and provide extra cash at critical times

  • Time savings: employees often feel that since their employer has researched the vendor company and insurance consultant already, they are spared the effort of vetting providers and comparing prices

  • Preventive care benefits: plans such as vision and dental provide employees and their families with preventive care benefits, helping to ensure health for the long term

Given that 62% of employees say they would leave their job for better benefits, adding voluntary benefits that your company doesn't have to pay for is a no-brainer. Seek out voluntary insurance programs as a way to offer employees additional benefits, savings, convenience, and financial assistance. Providing your employees vetted vendor options at discounted rates demonstrates care for your employees. 

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