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June 24, 2015 | Leave a Comment
Voluntary benefits have long served as a way to protect employees when they are sick or injured outside of their major medical coverage. Health care costs continue to rise and employees are taking more control of their benefits decisions. Voluntary insurance plans are becoming even more relevant as part of an employers benefit package.
Employers are facing difficult decisions about how to contain the rising cost of health care. Many are shifting the additional cost to their employees in the form of higher deductibles, co-pays, maximum out of pockets, and premiums. HR professionals and business owners are finding that voluntary plans help soften the impact of the inevitable cost-shifting and the rising out of pocket costs on their employees. Employers can add these plans with no direct effect on their bottom lines and they give the employees the opportunity to enroll in the options that best suits their needs. Employees view these voluntary plans as part of their employer provided benefit package.
Tracy Moore, Cornerstone Insurance Group Consultant
Posted in Benefits