Providing Voluntary Benefits for Your Employees
Voluntary or workplace benefits are becoming increasingly popular as employers meet the challenge of offering employee benefits amid rising costs and shrinking budgets. In addition, employees are looking to tailor their benefits packages to better fit their needs. Voluntary benefits allow them to do just that.
In essence, voluntary benefits are insurance products employees can elect to add to their plans to fill gaps in health insurance to meet their needs. Voluntary benefits are offered by employers but are paid completely or mostly by employees through payroll deferral.