The rising cost of employee benefits is a concern in today’s business climate. Employers are searching for solutions to help them achieve their recruiting and retention goals, at the same time implementing benefits cost reduction strategies.
Along with escalating costs, employers are dealing with other challenges that include the constantly changing healthcare industry, and consumer demand for information, technology, flexibility, and choice.
Offering additional group benefits on a voluntary basis (employee paid), can be an excellent way to enhance your employee benefits plan package without increasing your annual bottom line benefits spend.
Types of Voluntary Employee Benefits
Voluntary Benefits are benefits that are offered on a group basis to your employees but paid for by the employees via payroll deduction. Traditional types of voluntary benefits that are frequently offered to employees include:
- Dental Insurance
- Vision Insurance
- Life Insurance
- Disability Insurance
- Long Term Care (LTC) Insurance
Companies like Aflac paved the way for another group of voluntary products more commonly called Worksite Benefits. These insurance products include:
- Accident insurance
- Cancer Insurance
- Critical Illness Insurance
- Pre-Paid Legal Insurance
- Pet Insurance
Voluntary benefits are cost-effective for both employers and employees. The benefits that you offer your employees are an integral part of attracting and retaining the best talent. Reese Insurance Group can design and implement a world class voluntary/worksite benefits plan for you and your employees.