Why Employers Are Adding Voluntary Benefits to Their Group Plans
- chopgood3
- 6 days ago
- 1 min read
As healthcare costs continue to rise, employers are looking for ways to enhance their benefits offerings without increasing expenses. One solution gaining popularity is voluntary benefits.
Voluntary benefits allow employees to choose additional coverage while keeping employer costs under control.
What Are Voluntary Benefits?
Voluntary benefits are optional insurance products employees can elect and typically pay for themselves through payroll deductions.
Common voluntary benefits include:
Supplemental life insurance
Accident insurance
Critical illness coverage
Disability insurance
Why Voluntary Benefits Are Growing in Popularity
Employers value voluntary benefits because they:
Increase perceived value of benefits packages
Improve employee satisfaction
Offer customization for diverse employee needs
Require little to no employer contribution
Benefits Employees Appreciate Most
Employees appreciate benefits that help protect their income and families, especially unexpected events.
Popular employee-chosen benefits include:
Additional life insurance coverage
Accident coverage for unexpected injuries
Critical illness plans for financial peace of mind
Cost Advantages for Employers
Voluntary benefits:
Do not significantly increase employer costs
Are easy to add during open enrollment
Complement existing health, dental, and vision plans
How to Introduce Voluntary Benefits Successfully
Success depends on education and communication. Employees are more likely to enroll when benefits are explained clearly and questions are answered.
This is where a benefits agency adds real value.
👉 Interested in adding voluntary benefits to your group plan?
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