health :: voluntary worksite marketing

voluntary worksite marketing

Provided by: Chad P. Schneider, AFLAC and Steve Holgerson, asbb Benefits Director

Voluntary worksite marketing has been around for quite some time but due to economic factors and the state of insurance, the need has never been more prevalent. Employers throughout the country are looking for cost effective ways to increase their benefits packages at no cost to the company while their employees are looking for affordable insurance options to help secure and ensure their financial future. The whole concept of voluntary worksite marketing provides and affordable opportunity for employees to have more favorable underwriting conditions than through traditional models.

Employers are able to make voluntary/supplemental insurance policies available to their employees which helps attract new employees and retain existing employees. Employees control their decision to purchase the coverage and typically pay 100% of the premium. Insurance carriers that offer these types of products will offer a substantial discount on the premiums by going through payroll deduction as well as little to no underwriting questions. These premiums can typically be offered on a pre-tax basis which will help save money to both the employer and the employee. Employees will have the ability to choose from specialized products, dependent coverage and convenient payment methods.

The important thing to remember when looking at the voluntary coverage is that these products do not replace any existing coverage and are there to compliment your current benefits package. In the event that your company does not have a benefits package in place, these types of coverage can still be offered to your employees allowing them options that they did not have before.

In addition to having a wide variety of insurance products to choose from, most voluntary carriers will have a number of services that they can also provide to help your company cut costs and reduce administration. Services such as flexible spending accounts, cafeteria plans, COBRA administration, benefit statements, consolidated billing, retirement plan services, and wellness programs are available to bring more value to your business. By offering at least one voluntary product to the employees of your company, these services can be offered at little to no cost to your company and help save money for your bottom line.

When it comes to insurance in today’s marketplace, employees like to have the guidance of a licensed insurance professional to help them through the maze of options that are best for their needs. There are so many options available in the market today and ASBA can help assist you in finding the best option available for your company. Aflac has setup an affinity program through ASBA to provide these benefits at a discounted rate to members and member companies. For more information go to: www.asba.com and www.chooseaflac.com/azsmallbusinessassoc.