The Importance of Voluntary Benefits 

Interest in Voluntary Benefits by employees has been ratcheted up tremendously in the last few years. Driving employee interest now are two major changes over the last ten years, which have resulted in the need for these products now more than ever. The first change that is driving the need for a Supplemental Insurance products has come from the major “cost shifting” that has taken place with Health Insurance. Rising deductibles and the ever shrinking list of what is covered, has left the average employee more exposed than ever to potential out of pocket costs. In addition Employers are being forced to shift the cost of Health Insurance to their employees. The average employee is not prepared to absorb these costs. More often they simply cannot.

The second change driving Voluntary sales is the ever shrinking personal “safety nets” of the average employee. With the recent downturn in the economy, most employees have far less in the way of an emergency fund to cover unexpected events. What an employee had for resources to cover unexpected costs even 5 years ago, has been severely affected by recent events in the US economy. Supplemental products fill the need very well. While they may have once been considered a “nice to have” insurance, they are fast becoming today’s “need to have” safety net. We can guide your employees to safer waters.

“With empty pockets and an unprecedented exposure to health care costs, Employees now look at high benefit, low cost supplemental products, as a way to make up the difference”.