Confidence in Voluntary Benefits Rises
Profitability outlook increases over 2011 estimates
Profitability outlook increases over 2011 estimates
“Small business owners tend to change their insurance plans often, as they search for more affordable insurance. Not only does this switching impose costs on the businesses, but it also motivates insurers to take short-term approaches to health coverage for small businesses.”
This does not have to be the case at all. Small businesses don’t have to jump from plan to plan, leaving employees feeling uncertain and in a continual state of re-adjustment. Today, smaller employers have some options that weren’t available to them just a few years ago. A third-party administrator can help a small employer craft a health plan that fits their particular needs. And a self-funded plan is not stagnant. It can be altered to accommodate changes in a small employer’s work population, providing much-needed flexibility.
Deciding on a worksite wellness program, let alone finding a vision for it may sound like a daunting task.
The company said it works with employers to create a customized enrollment strategy and benefit education program for voluntary benefits.
The fall months traditionally serve as a time to promote flu prevention.
The need for disability coverage will continue to grow as the U.S. workforce ages, experts say.
Employers should focus on some key elements in designing and offering a voluntary benefits program.
Other research has predicted that even more firms will drop coverage, letting employees buy insurance on their own through the online marketplaces, or exchanges, that will be established.
Healthcare benefits have been under pressure for years, costing employers more while at the same time placing a greater affliction on employees.
How can companies determine if adding a voluntary benefit program is the right choice for them?
Two Radnor Corporate Center
Suite 110
Radnor, PA 19087
610-567-0175
800-527-3615
