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5 voluntary benefits plan design tips

WEX Inc.

Did you know employers can enhance their benefits offerings by incorporating voluntary benefits? But what exactly are voluntary benefits, and how can employers design an effective plan? And don’t forget to check out our Benefits Buzz podcast episode below. What are voluntary benefits?

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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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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. What are benefits that are voluntary?

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What is a benefits broker and how can they simplify employee benefits?

Higginbotham

These services could include: Plan Design and Customization: One of the core functions of a benefits broker is to help design and customize benefits plans that fit the unique needs of an organization and its employees. Vendor Management: Managing relationships with multiple insurance providers can be time-consuming.

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USI Employee Benefits

HR Lineup

In addition, USI provides life insurance, short- and long-term disability insurance, and accidental death and dismemberment insurance to help protect employees and their families. Finally, USI’s innovative technology and online platforms make it easy for employers to manage their employee benefits program.

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Worksite benefits: Hospital indemnity insurance and beyond

Higginbotham

Providing Hospital Indemnity Coverage (and More) as Voluntary Benefits If you’re worried that offering all of these supplemental insurance options may be too expensive, there’s good news. First, these policies tend to be affordable, especially when compared to health insurance. However, education is key.