With long-standing relationships in the insurance industry, Elite is able to offer a wide array of quality products, services, and financially successful employee benefit programs, among them voluntary benefits. We work with our partners to create plans that meet client needs, and provide them with options to manage their unique benefit plans.
We understand that managing a benefits plan is time-consuming for a Human Resources department and benefit plans are often laden with complexities concerning compliance and changes in health care regulations. If you would like to offer additional coverage to your employees at no extra expense, consider voluntary insurance benefits. When provided to employees , these additional offerings are another effective way to boost employee retention with minimal expenditure.
Voluntary benefits are specific insurance products an employee may choose to purchase, including dental, disability, supplemental health, life, vision, and cancer insurance from their company at a lower rate than what they could get on their own. Premiums are paid from pre-tax dollars and deducted from employee paychecks, making payment convenient and simple. Many employers provide voluntary benefits because they allow companies to provide a larger benefits package at no extra cost.
Voluntary benefits come in many varieties—they help protect physical and financial well-being. For example, employees can purchase disability insurance that will help offset income loss if they are unable to work due to injury or sickness. Supplemental insurance can cover copays, deductibles, or other costs not covered by regular health insurance.
Offering voluntary insurance benefits to employees provides a great incentive for individuals to stay with your company, and employees are able to receive more benefits without you paying more—in addition, voluntary benefits provide the opportunity for you to lower payroll taxes with every employee enrolled.
Elite specializes in working with our partners to offer unique programs and solutions to meet clients’ needs and help employers navigate the ever-changing world of self-funded benefit plans. Don’t hesitate to contact Elite should you have questions regarding our voluntary benefits insurance.