Voluntary Benefits

Voluntary benefits are additional insurance products offered by an employer, but paid for by the employee by Salary Reduction means.  These benefits are typically considered in addition to the base Employee Benefit Package.  If Voluntary Benefits are offered, employees may find it attractive to purchase these benefits through the company if they find it difficult to purchase such programs on their own, due to underwriting complications, or cost concerns.   

A few examples of voluntary benefits are Critical Illness, Accident, Cancer Policies, and Disability Policies.  Many employers offer voluntary benefits because it allows them to expand their Employee Benefit Package, making it more robust at no additional cost to the employer.  Dollars spent by the employee on these benefits typically reduce Payroll Taxes to the employer.

Voluntary Benefits are a great “supplement” for employees who may want additional coverage just in case.  These benefits can act as a “gap-filler” to eliminating financial hardship.  They are inexpensive and usually 100% portable.  

• All State Benefits
• Humana
• Guardian