MMA Blog

The Value In Voluntary Benefits

Employers are facing a real dilemma when it comes to employee benefits. Health care costs continue to rise, and maintaining a comprehensive and competitive employee benefits package is becoming increasingly difficult. The introduction of voluntary benefits is an effective and smart way to control cost and still meet employee's needs. Typically these benefits are 100% employee paid and employers are offering these products as a way to give employees the opportunity to customize their benefits package without expanding the benefits budget.

Employer motivation and value in offering Voluntary Benefits:

  • Empowers employees by giving them flexibility and choice to select benefits based on their needs and lifestyle
  • Addresses employee requests for optional coverage to fill gaps in coverage
  • Improves employee retention and attraction
  • Certain products have built-in wellness incentives to encourage health screenings

Not sure where to get started? Analyze current benefit offerings for gaps and identify opportunities to enhance your program based on your employee population. Seek guidance for effective plan solutions that fill the gaps and add perceived value to your program without adding cost. Finally when introducing voluntary benefits, it is critical to have a strong communication and education strategy when rolling out to your employee population.  This strategy is key as it will ensure your employees not only understand the benefits being offered but will also see the value.

Posted August 02, 2012

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