AFFORDABLE AND STRATEGIC
Voluntary benefits (those offered at a discounted rate paid either fully or partially by the employee) are one of the best, most cost-effective ways to attract and retain key talent. A robust voluntary benefits plan can lead to higher employee engagement, an edge over competitors, and increased job satisfaction – and often at no cost to the employer.
MODERN BENEFITS WITH MORE VALUE
Along with wellness programs, pet insurance, and legal and financial services, these important voluntary offerings have become common in employee benefits packages – and they are often incentivized by the carriers themselves:
Critical Illness Insurance
Pays a benefit if the insured is diagnosed with a covered condition such as cancer, heart attack, stroke, and more
Lump-sum benefit is paid directly to the insured
Does not coordinate with medical insurance
Accident Insurance
Provides funds to help pay for unexpected expenses due to accidental injury, ER/urgent care visits, surgeries, ambulance, etc.
Benefit is paid directly to the insured
Does not coordinate with medical insurance
Hospital Indemnity Insurance
Pays a benefit when an insured is in the hospital for an accident, illness, or pregnancy
Typically includes payments for hospital admissions, daily hospital benefit, and ICU
Benefits paid directly to the employee; does not coordinate with medical insurance
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