Voluntary Benefits Are More Popular than You Might Think

A recent survey by Benefits Pro shows that 83 percent of employees want a choice of voluntary benefits and they don’t expect employers to pay for them.

Voluntary benefits are insurance products offered by employers to help employees with financial responsibilities, including some of the costs not covered by high-deductible health plans. Voluntary benefits can cover vision, dental, short- and long-term disability, critical illness, cancer, supplemental hospitalization and supplemental life.

Employees are also showing increased interest in lifestyle benefits that go beyond insurance, such as financial planning, online education, identity theft protection or onsite massages.

By offering a wide variety of voluntary benefits, employers can lessen the burden of health care costs and give employees enough choices to tailor a coverage package that fits their needs.

Employers can pay some of the costs, but most benefits are paid 100 percent by employees through payroll deferral.

Best of all, by offering a variety of voluntary benefits, employers can help employees tailor a plan that best fits their needs. Benefits Pro’s survey indicates that 62 percent of employees wouldn’t consider taking a job that doesn’t offer voluntary benefits.

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