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What are voluntary benefits?

WEX Inc.

Voluntary benefits give employees the opportunity to further customize their benefits package to meet their personal needs. And they serve as an excellent cost-effective recruitment and retention tool for employers as they look for ways to improve their benefits offerings. Why are some examples of voluntary benefits?

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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% Accident insurance rose 4%.

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Making Your Voluntary Benefits Program a Success

InterWest Insurance Services

Both employers and employees have much to gain from a solid voluntary benefits program. For employers, offering a range of voluntary insurance products can help increase employee satisfaction – along with loyalty and morale – and make the business more competitive in attracting and retaining the best talent.

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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.

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Are Your Benefits Enough to See Employees Through a Crisis?

InterWest Insurance Services

Over 80% of middle-market respondents report that they got their health insurance, disability insurance and retirement plan all through their employer. Meanwhile, six in 10 have no life insurance in place outside of the workplace. Are life insurance benefits adequate? To learn more, call us.

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What is supplemental life insurance and how can it improve your employee benefits package?

Higginbotham

What is supplemental life insurance? It’s a type of life insurance policy that’s often available through work and provides additional coverage. What is supplemental life insurance? Supplemental life insurance fills in coverage gaps and provides additional life insurance coverage.

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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.