You know the importance of health care coverage and a 401(k), but are you taking full advantage of voluntary benefits through your employer? These additional benefit options, offered by your organization, allow you to access valuable coverage at a lower cost. Unlike traditional benefits, employees typically pay most or all of the cost for these voluntary options.
Why Choose Voluntary Benefits Through Your Employer?
Lower Price
If you’re planning to purchase a benefit anyway, it’s likely more cost-effective to do so through your employer. The group rate your organization secures is usually lower than what you’d pay individually.
Convenience
Electing voluntary benefits through your employer is simple. Premiums are paid through payroll deductions, often pre-tax, just like your other benefits. Plus, you can skip the hassle of shopping around—just select what you need during open enrollment.
Protect Yourself and Your Family
These benefits are designed to safeguard you in case of unexpected events like illness, accidents, or disability. For example, disability insurance may seem unnecessary—until you consider how you’d manage without a paycheck for weeks or months. A small premium now can provide significant financial protection later.
Common Types of Voluntary Benefits
- Life Insurance: Elect coverage up to a certain amount without medical underwriting.
- Vision Insurance: Includes free annual eye exams and discounts on glasses or contacts.
- Dental Insurance: Covers preventive care and discounts on treatments.
- Long-term Care Insurance: Covers care for daily activities not covered by Medicare or Medicaid.
- Short-term and Long-term Disability: Provides income protection for temporary or long-term disabilities.
- Accidental Death & Dismemberment: Offers coverage for accidental death or loss of limbs, vision, or hearing.
Take advantage of voluntary benefits through your employer to protect yourself and your family while saving money and time.
