What Does it Cost?
Voluntary benefits are 100% employee paid.
However, to make a voluntary program successful employers need to do the following:
- Commitment: Believe that they are doing their employees a service.
- Endorsement: Believe in and support the process from start to finish.
- Employee Time: Allow for employees to spend a minimal amount of time with a benefits counselor.
How Does it Work?
Voluntary benefits are implemented using Benefit Counselors with communication and education tailored to the specific needs of the employee group. A typical process will include:
- Pre-enrollment communication rollout
- Open enrollment announcement
- Employees meet with dedicated Benefit Counselors to make informed decisions
- Follow-up and ongoing enrollments
Value to Employees
- Access to high quality financial counselors
- Cost effective financial protection coverage
- Avoidance of financial hardship
Value to Employers
Most employers can benefit from a voluntary benefit offering. However, the type of products offered and approach to implementation will vary based on workforce characteristics.
- Reduced absenteeism
- Greater appreciation of employer benefit program
- Linkage with other benefits