These benefits can be offered to your employees without any direct cost to you and are available to businesses of all sizes. Employees appreciate having access to group rates on benefits such as dental, vision, disability and life insurance. Many businesses choose to offer a variety of group voluntary benefits so employees can choose the coverage they want.
What Are Group Voluntary Benefits?
Also known as supplemental insurance or employee-paid benefits, a group voluntary benefits program is essentially a deal that allows an insurer to offer your employees access to specific medical benefits through their employer. The insurer is able to offer your employees lower premium costs than they would be able to get as an individual on the open benefits market.
The premiums for group voluntary benefits are paid through pre-tax payroll deductions. This means that it is very convenient for employees to participate and also allows employers to pay lower payroll taxes. In short, it’s a win-win situation for your company and your employees.
Group Voluntary Benefits From Burton & Company
Here is a look at some of the basic employee benefits coverages that you can consider when putting together your group voluntary benefits package.
Our vision insurance can cover routine visits to optometrists for eye exams, along with the costs of contact lenses and glasses, all of which are not normally covered with health insurance plans.
Help your employees avoid expensive bills for oral surgery and extensive dental work by offering dental insurance. This typically covers the cost of dental cleanings and cavities and may cover part of the costs your employees pay when they visit a dentist.
We offer two types of disability insurance: short-term disability and long-term disability. Both categories can help replace a portion of your employee’s income if they become too injured or ill to work.
Our short-term disability policies typically provide benefits for three to six months, while our long-term policies can pay benefits for several years or decades depending on the plan. You may choose to offer one or both types of disability coverage as a voluntary benefit.
Life insurance comes in many forms, but at its heart, it is designed to pay benefits to your employees’ beneficiaries if they meet an untimely death. This can give employees whose loved ones depend on their income financial confidence and is a popular offering in voluntary group benefits.
Get The Voluntary Benefits Your Employees Seek
Voluntary benefits can provide significant value to your workforce. Reach out to Burton & Company today and our experts will guide you on the right mix of benefits for your business so you can keep your valued employees happy and healthy. To get started, give us a call at (888) 652-1325 or request a quote online and discuss your options with us today.