Remove 2023 Remove Deductible Remove Voluntary Benefits
article thumbnail

Voluntary Benefits Improve Employee Satisfaction and Retention

InterWest Insurance Services

As a result, many employers are increasingly turning to voluntary employee benefits, which allow them to provide valued, high-demand benefits to employees at little or no cost to the company. Voluntary benefits have been becoming more popular among employers in recent years as unemployment falls.

article thumbnail

Voluntary Benefits Demand Surges as Employees Seek to Defray Costs

InterWest Insurance Services

Sales of voluntary group benefits grew at a record pace in 2023 as more employers expand their offerings and demand continues booming as employees seek out benefits that can defray costs, according to new research. Premiums collected for employer-sponsored voluntary benefits jumped 6.7%

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Four High Deductible Health Plan Mistakes to Avoid

InterWest Insurance Services

With more than half of all private sector employees enrolled in high-deductible health plans , it’s important that employers have in place certain protocols to ensure that they are a success. Other voluntary benefits like critical illness insurance can fill in the gaps when employees have a high deductible.

article thumbnail

Standard Chartered Bank and Lidl GB shortlisted for Best voluntary benefits

Employee Benefits

Standard Chartered Bank and supermarket chain Lidl GB have been shortlisted for Best voluntary benefits at the Employee Benefits Awards 2024. The post Standard Chartered Bank and Lidl GB shortlisted for Best voluntary benefits appeared first on Employee Benefits.

article thumbnail

Legal benefits for employees: Pros and cons of adding legal services

Higginbotham

is $327 as of August 2023. Households in 2023 report found that 37 percent of adults would be unable to cover an unexpected expense of $400 without borrowing or selling assets. News & World Report , most law firms charge by the hour, and the average hourly rate in the U.S. The Federal Reserve Board’s Economic Well-Being of U.S.

article thumbnail

Helping Your Employees Get the Most out of Their Health Plans

InterWest Insurance Services

The 2023 “Aflac WorkForces Report” found that while 51% of employees have a solid understanding of their total annual cost for health care coverage and care, just 39% have a full understanding of their health insurance policy. Then: If they did not, they should consider reducing their premiums in exchange for a higher deductible.

article thumbnail

Four Ways to Ensure Your Group HDHP Will Fail

InterWest Insurance Services

With more than half of all private sector employees enrolled in high-deductible health plans , it’s important that employers have in place certain protocols to ensure that they are a success. Other voluntary benefits like critical illness insurance can fill in the gaps when employees have a high deductible.