Voluntary Benefits

Are your current employee benefits competitive? You can add meaningful, engaging benefits for your employees — without increasing benefit costs for your organization.

Enhance Benefits—Without Expanding Your Budget

Companies of every size are seeking strategies that control skyrocketing costs — without sacrificing the competitive benefits packages that help attract and retain quality employees.

For many companies, voluntary benefits provide a sensible solution. They offer employees access to group benefits they would not be able to receive with individual plans. And while employees reap the benefits of added perks, companies can shift most or all of the financial responsibility to employees on a tax-advantaged basis.

Expert Benefit Plan Advisory

We've partnered with Benefits Technologies, one of the largest benefits delivery companies. Backed by a knowledgeable team of human resources and insurance professionals, they negotiate policy pricing and develop effective communication, enrollment and administration. They'll design a well-crafted program that empowers employees to choose.

Beyond Just Life Insurance

Voluntary benefits plans offer not just life insurance products, but also accident, disability, cancer and critical illness policies. And, steep health insurance costs have made alternative and supplemental coverage — those services not typically available with traditional medical insurance — a valuable choice.

Meet Employees’ Needs and Your Company’s Goals

You can help employees secure the specific insurance coverage they need while meeting the financial challenges of corporate benefits plans. Discover what a robust benefits package can do for your company.

Benefits to Employers

Offering a voluntary benefits package may help you deliver key benefits to your loyal employees while remaining true to your company’s financial responsibilities. Primary benefits include:

  • No effect on budget. There are no direct costs to your company with a voluntary benefits program.
  • Completing your plan. When you offer voluntary benefits, you can fill the gaps in your current core employee benefits package.
  • No reporting requirements. Voluntary benefits plans are non-qualified plans and therefore do not have IRS reporting requirements.
  • Enhancing your reputation. By providing access to specialized benefits through convenient payroll deduction, you show your employees you care about their well-being.
  • Employee retention. An attractive, comprehensive benefits program can help reduce employee turnover and increase employee loyalty and morale.

Benefits to Employees

Voluntary benefits plans can provide important advantages to your employees:

  • Convenience. Employees can pay their premiums through convenient payroll deductions.
  • Accessibility. You’re providing options for group policies and coverage many employees would not be able to purchase on their own.
  • Family coverage. Employees can extend coverage to their family members.
  • Portability. If employees leave your company, they keep their current voluntary benefits.
  • Affordability. Premiums are affordable and competitive. If the program is part of a Section 125 plan, they are deducted on a pre-tax basis, thereby lowering your employees’ taxable income.

Get in Touch

Ask your Relationship Manager about developing a voluntary benefits plan that works for your organization.

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