Why You Should Consider Voluntary Benefits
As long term employment becomes the exception and employees are more mobile, employers that offer voluntary employee benefits often stand out as being progressive employers with something more to offer. Voluntary benefits can include accident policies, disability, life insurance, cancer policies and more. This trend toward shifting some of the cost of benefits can be a Win-Win for both the employer and employee.
As costs of employment rise and employers find themselves unable to offer benefits, the voluntary benefit market offers a solution. The employer can offer benefits which can be payroll deducted (oftentimes the employees can receive tax benefits) and rates are competitive for the employee because they get a group rating and limited medical underwriting. Studies have shown that employees who have a voluntary disability or accident policy are far less likely to try to use workers comp insurance for a non-work related injury. The employer is also able to retain and recruit employees better than their industry competition that offer no benefits and there is no additional cost to the employer for offering them.
The employees who may have a diversity of needs are able to choose and pay for the benefits they want. They also like the convenience of buying through the employer rather than finding employee benefit solutions on their own. They can customize benefits and enhance their financial security. The plans can be quite affordable.
If you have questions on what types of plans are offered and how your company can get involved, please email me at srichardson@clark-mortenson.com or call me at 877-352-2121.
