Group Voluntary Benefits
Expanding Your Employee Offerings
Group voluntary benefits are optional insurance plans offered by employers to supplement core benefits like health, dental, and life insurance. These benefits give employees the flexibility to choose coverage that best suits their individual needs and circumstances.
Benefits of Offering Voluntary Benefits
Common Voluntary Benefits
How Voluntary Benefits Work
Employees typically enroll in voluntary benefits during open enrollment periods. The cost of coverage is deducted from employee paychecks. Unlike core benefits, employers generally do not contribute to the cost of voluntary benefits.
Choosing the Right Voluntary Benefits
Selecting the appropriate voluntary benefits involves considering factors such as:
Contact us today to design a voluntary benefits package that fits your workforce’s unique needs.
Benefits of Offering Voluntary Benefits
- Enhanced employee satisfaction: Demonstrates employer care and support for employee well-being.
- Attracting and retaining talent: Competitive benefits packages can help attract and retain top employees.
- Increased productivity: Happy and healthy employees are more productive.
- Cost-effective: Employers share administrative costs but do not typically contribute to premiums.
Common Voluntary Benefits
- Supplemental Life Insurance: Additional life insurance coverage beyond the base group life plan.
- Accident and Disability Insurance: Provides income replacement and medical coverage for accidents or disabilities.
- Critical Illness Insurance: Offers a lump sum payment for specific critical illnesses.
- Dental and Vision Insurance: Additional coverage beyond core plans.
- Pet Insurance: Protects against unexpected veterinary expenses.
- Identity Theft Protection: Safeguards employees' personal information.
- Legal Services: Provides access to legal advice and assistance.
- Tuition Reimbursement: Supports employees' professional development.
How Voluntary Benefits Work
Employees typically enroll in voluntary benefits during open enrollment periods. The cost of coverage is deducted from employee paychecks. Unlike core benefits, employers generally do not contribute to the cost of voluntary benefits.
Choosing the Right Voluntary Benefits
Selecting the appropriate voluntary benefits involves considering factors such as:
- Employee demographics: The age, family size, and health needs of your workforce.
- Budget: Determine the overall cost of offering voluntary benefits.
- Employee needs: Assess the needs and preferences of your employees.
- Plan options: Compare different plans based on coverage, costs, and carrier reputation.
Contact us today to design a voluntary benefits package that fits your workforce’s unique needs.
