Do I have to provide health insurance to offer my employees voluntary benefits?

The short answer? No. Voluntary benefits are benefit options such as dental, vision, disability, and critical-illness and accident insurance, ID theft protection, and legal services that an employer can offer, but are paid—partially or fully—by their employees through payroll deductions. Voluntary benefits are designed to help fill the gaps in your employee benefits coverage and offer your employees the option to add on coverage, typically at a lower cost than they could get individually.

With rising healthcare costs, voluntary benefits are a cost-effective solution for you and your employees. Offering these benefits gives your employees the convenience of choosing from a menu of optional insurance coverages—all with little or no cost to you.

By providing choices to your employees so they can decide on the best options for themselves and their families, you can give your business an edge when it comes to recruitment, and you can enhance employee loyalty and retention.

In this blog post, we’ll discuss the advantages of offering voluntary benefits for both you and your employees. We’ll also examine the importance of educating your employees on the value of voluntary benefits using a targeted communication strategy.

 

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