Why Voluntary Benefits?
In today’s environment of ever increasing health care costs and a tight economy, more and more employers are looking to voluntary benefits as a way to improve their corporate benefits package.
Voluntary benefits are typically fully funded by employees through payroll deduction and have no direct cost to the employer. In most cases, the employer will also experience savings on matching payroll taxes.
Voluntary benefits satisfy a critical need for individuals, by allowing employees to protect themselves against out-of-pocket health care costs and to create a financial safety net for their families in the event of a serious health situation. Voluntary programs can range from traditional Disability, Dental, Vision and Life products, to emerging solutions like Critical Illness, Accident, Hospital Indemnity and Cancer expense plans.
With proper strategy, these voluntary benefits programs can be coupled with an organization’s health plan and wellness initiatives to reduce health plan utilization and control both employer and employee costs.
At Mid-Atlantic Benefits Group we specialize in strategic planning, implementation and service of voluntary benefits plans, always with the goal of creating a positive benefits experience for both the employer and their employees.