Voluntary benefits 101
A starter guide for busy employers who want practical information about voluntary benefits without the jargon.
A starter guide for busy employers who want practical information about voluntary benefits without the jargon.
Voluntary benefits help pay for out-of-pocket expenses that major medical and other insurance don't cover. Also called supplemental benefits, voluntary benefits are used to meet a diverse range of needs. Examples include paying for out-of-pocket medical expenses, household bills and travel expenses, as well as replacing missed wages. Many employees like that benefits such as disability, accident and hospital are paid directly to them, so they can use them where they are needed.
The beauty of voluntary benefits is they can be customized for the specific needs of a business and their employees, catering to certain vocations, stages of life, location and lifestyles.
Payment options for voluntary benefits include:
Advantages to the business
Advantages to employees
Why small businesses don't offer voluntary benefits