Voluntary or “Freedom of Choice” benefits are typically offered to empower employees to tailor make their benefit package based on what’s most important to the employee. These benefits are typically paid for 100% by employees, are portable and pay cash benefits to cover both the out-of-pocket medical expenses and non-medical costs (i.e. rent, mortgage, car loan, utilities, etc.).
The majority of employers offer these benefits to help employees cover the high costs associated with major accidents and illnesses. Voluntary benefits also help keep the employer out of the loan business.
Employees appreciate the ability to make their own choices.
The real questions are… which carrier, why, how and the coordination with your overall benefit offering. That’s where we come in.