MMA Blog

The Time Is Now For Voluntary Worksite Group Plan

More and more of our clients are either offering or introducing voluntary group plans as a part of their overall benefits package. Why now?

Rewind a few years. Most of you are aware of the company with "The Duck" that introduced supplemental insurance. Many employers offered the plans but Human Resource staffs and consultants had a tough time understanding the need. "Why do I need to supplement my medical plan? Our medical plan is excellent" was a common retort heard from employers. Companies reluctantly offered the plans because their employees "asked for it at work," only to deal with the hassles involving overbearing agents and constant administrative headaches.

Now fast forward back to 2011. The benefits landscape is quite different. Employers are unable to offer the most robust benefit package. Insurance premiums are increasing. Employees are being asked to shoulder more of the cost for their medical care. Employers are having to get more creative with plan designs and there is a definite shift toward Consumer Directed Health Plans. Employers are also still looking for ways to offer a wide variety of plans with the focus being on providing financial protection in the event of a serious health problem. How do employers accomplish this without adding more to the benefits budget?

The answer can be found in Voluntary Worksite Group Plans. Here's why:

  • Focus on allowing employees to customize their own benefits package based upon their individual needs.
  • Provide financial incentives to encourage employees to get their annual health screenings
  • Flexibility for benefit administrators on enrollment and communication methods while providing uniform plans and rates

Although these plans seem to remove many of the administrative burdens of the older individual plans, it is still very important to have an experienced benefit advisor help you navigate through the choices and develop a strong and comprehensive benefit communication and enrollment strategy.

Did you know Progressive Benefit Solutions is one of the only benefit consulting firms in North Carolina with a dedicated division focusing on the implementation of voluntary plans?

Posted January 30, 2012

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