Employee Health Insurance Benefits

Employee health insurance benefits are shrinking as the cost of providing these programs sky rocket. Many employers are finding the need to either scale back health insurance options, or pass more of the costs along to employees.

But scaled-back options leave employees exposed when health events occur, and not every employee's needs are the same.  Voluntary employee benefits allow employers to expand employee health insurance choices without adding to direct cost. At the same time employers can:

• Expand employee options
• Create custom fit plans

Supplemental insurance helps employers expand employee health insurance benefits without adding to direct costs: employees are given the option to pay for the extra coverage by payroll deduction. Pre-taxing of supplemental insurance premium can lower payroll taxes paid by the employer, helping to offset any additional administrative costs. 

Supplemental insurance plans are easy to implement:

• No changes to existing plans  - supplemental insurance fills in the holes
• Keep your broker - adding supplemental insurance does not require a broker of record change

Supplemental insurance gives employees greater choice. Group employee health insurance benefits are paid directly to doctors and hospitals providing care, but do not replace lost income or compensate employees for non-medical expenses, and leave left-over medical expenses with deductibles, co pays, and co-insurance. Supplemental insurance fills these holes for employees. 

Employees have unique needs and personal situations, and these needs change as employees move through different life stages. 

• Single Employees - May have active lifestyles, but only one income to cover expenses
• Growing Families - Need maternity leave income, and security for complications
• Families With Children - May need to cover college costs if one parents dies
• Older Adults - May be worried about critical illnesses such as cancer or heart disease

With so many varying needs a one-size-fits-all employee health insurance benefits package may not work. Supplemental insurance allows employees to select targeted insurance plans to address their specific needs:

• Single Employees - Accident disability coverage
• Growing Families - Short term disability for pregnancy and maternity leave
• Families With Children - Supplemental life insurance