Voluntary benefits

Transform your employees’ health and benefits experience

Striking a balance between benefits cost containment and enhanced coverage continues to be a top priority for employers as they navigate a competitive talent marketplace. Voluntary employee benefits programs allow organizations to add enhanced coverage, which otherwise would have to be built into a core plan, without additional cost.

Over half (54%) of all employees would like to customize their benefits to meet their needs, according to Mercer Marsh Benefit’s Health on Demand 2021 report. As a result, voluntary benefits have become a great differentiator for organizations looking to strengthen their competitiveness and create a sustainable employee benefits value proposition. This is especially important given how multigenerational, diverse, and global workforces are today.

For employers, it’s an easy way to enhance benefits program without unduly stretching their administrative burden. For employees, their workplace is acknowledging their lifestyle and life cycle needs and giving them the flexibility to tailor their benefits.

Program enhancements that can be offered on a voluntary basis include:

• Higher medical, life, travel, and/or accident coverage for employees and dependents.
• Plans that cover various out-of-pocket expenses, such as outpatient services.
• Buying plans that cover risks like auto and/or home.

Talent attraction, retention, and engagement is increasingly critical for firms. Voluntary programs offering a choice of benefits that address changing workforce needs can assist you with becoming an employer of choice.