Voluntary Benefits Key Features
No employer contribution required and premiums can be paid pre-tax by employees for employer FICA savings of 7.65%.
Benefits include – dental, short and/or long term disability insurance, life insurance, vision, accident and cancer coverage.
Group Rates and products are available to your workforce providing cost effective benefits that they cannot get elsewhere. Many plans are also “guaranteed issue” regardless of medical history.
Employees are able to choose only the benefits that are right for them – no one size fits all approach.
Customized employee communications are provided to educate and highlight benefit options.
Melcher & Prescott Insurance works with a variety of Voluntary Insurers to meet the diverse needs of employers and employees throughout New England.
Voluntary Benefits Improve Employee Satisfaction and Retain Key Employees
Numerous national studies show that employees value benefits even more than wage increases. Over 80% of employees who are offered employer sponsored voluntary benefits choose to participate in a program. Employees also value the ease of pre-tax payroll deductions to purchase their benefits.
Additionally, as employers are forced to reduce health insurance benefits voluntary options are a great way to fill in the gaps of higher deductibles and out of pocket expenses.