Remove Disability Insurance Remove Health Insurance Remove Voluntary Benefits
article thumbnail

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?

article thumbnail

Employee Benefits: The Only Guide You Need

Achievers

Federal and state mandated benefits include health insurance, worker’s compensation, unemployment insurance, and required leave time for caring for family and/or personal medical purposes. Health insurance, and family and medical leave, are not required for all businesses.

Insiders

Sign Up for our Newsletter

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

article thumbnail

Are Your Benefits Enough to See Employees Through a Crisis?

InterWest Insurance Services

Middle class families — those with incomes of between roughly $50,000 and $100,000 per year — are becoming increasingly reliant on workplace benefits to ensure their financial well-being in case of a disability or critical illness. Simple health insurance is insufficient to carry the load.

article thumbnail

Importance of Employee Benefit Package And Why it Matters

HR Digest

Employee benefits have become an essential part of any competitive compensation package. From mandated health insurance plans to free snacks, benefits and perks can play a big role in talent attraction and employee retention. Health insurance Those benefits provide a baseline of employee expectations.

article thumbnail

What is ancillary health insurance?

Higginbotham

Ancillary health insurance is a secondary type of coverage used to supplement your traditional health insurance. The term “ancillary” means “providing additional help or support,” and that’s just what ancillary health insurance does. Types of Ancillary Benefits. Examples of Ancillary Health Insurance.

article thumbnail

How to offer health insurance as a small business

Higginbotham

They want to be fairly compensated for their work, and that usually involves both wages and employee benefits. Although some small business owners may feel overwhelmed by the prospect of offering health insurance and other benefits, the many advantages can make the effort worthwhile. Health insurance matters to employees.

article thumbnail

Why Your Staff Needs Short- and Long-Term Disability Coverage

InterWest Insurance Services

While their health insurance will cover their medical expenses, it won’t cover the cost of living while they recover. Only 30% of American workers in private industry currently have access to employer-sponsored long-term disability insurance coverage, according to the U.S. Bureau of Labor Statistics.