Affordable, portable, and personalized, voluntary benefits are insurance solutions offered through an employer, but are paid partially or solely by employees based on the employer’s preference.

Common voluntary benefits include insurance coverage for vision, dental, accident, home and auto, and non-insurance coverage such as identity theft protection, pre-paid legal services, purchasing programs, and student loan repayment.

As an employer, programs feature simple administration and enrollment, backed by long-term pricing and low participation requirements.

Flexible and value-added features of variable benefits for employees include:

Voluntary and customizable participation.
Payroll deductions for policy costs.
Direct cash benefits for covered claims.
Guaranteed coverage without required health questions.

Cost and Time-Savings

Enhancing existing benefit packages by offering voluntary coverages is a win-win for both employers and employees. The cost and time conveniences related to pursuing voluntary claims compared to navigating the workers’ compensation system are driving factors in these savings.

Employees with voluntary accident coverage are more likely to receive immediate treatment, minimizing the risk of a more serious injury occurring on the job or being reported as job related. Since claims are more easily filed through voluntary carriers than the workers’ compensation system and paid more quickly, more off-the-job injury claims are submitted appropriately, saving employers unnecessary workers’ compensation costs.

Consider the following scenario. A fall from a ladder over the weekend at home goes untreated because the employee doesn’t have insurance. Instead, he waits to report his injury on Monday as an at-work incident in order to utilize medical benefits provided through workers’ compensation.

This deceitful claim unfairly results in workers’ compensation claims, costing the employer time and money in handling the claims and the resulting loss of productivity.

In addition to reducing workers’ compensation claims, instituting a well-rounded and well-promoted voluntary benefits package will help employers by:

Sharpening your competitive edge when attracting, engaging, and retaining top-notch employees.
Encouraging a healthier workforce thereby reducing employee absenteeism and increasing productivity.

Employees will find cost savings and other advantages when utilizing voluntary benefits over workers’ compensation claims in the form of:

Easier claims filing.
Less claim scrutiny.
Faster payments.
Added level of personal privacy.
Peace of mind.