Voluntary benefits are a great way for every employer to add value to its benefits package. These benefits can supplement a core compensation package and include both insurance and non insurance products.
Voluntary insurance benefits such as dental, vision, life, short- and long-term disability and accident insurance can be offered to employees at a reduced group rate.
Employees, who typically pay 100% of voluntary insurance benefit premiums, can take advantage of automatic payroll deduction and in some cases may use pre-tax dollars for these benefits. Other non insurance benefits are available, too. Employers may choose to provide non-insurance benefits that offer simplicity, convenience and money-saving options in a variety of ways for the employee. Employee discount programs are one example. Employees with access to this type of voluntary benefit can save money on certain goods and services simply because they are employees of the company, often with no cost or premium paid by the employees at all.