Voluntary Benefits, are the benefits you usually receive from your employer as an extra benefit to your Core Benefits (your health insurance, dental, vision, etc).
Voluntary Benefits can consist of:
- Accident Insurance,
- Cancer Insurance,
- Disability Insurance,
- Pet Insurance
- Medical GAP Insurance,
- Life Insurance
- Dental and Vision (if not part of the Core Benefits)
- Financial Wellness
- Critical Illness
- Limited Medical Plans
Those voluntary benefits are usually from one company because HR and Payroll don’t want the extra work involved in setting up too many products let alone from more than one company. But you really can’t blame them, they have a lot to do keeping up with the current benefits you have let alone bringing on more.
A little secret – one voluntary benefits company doesn’t have all the best voluntary benefits plans, you need to pick the best from many different companies, but as I said earlier, HR and payroll have enough to do without adding maybe 5 – 10 more companies.
Then you have the enrollment problem. Voluntary benefits are usually enrolled once a year, so what happens if you need a particular benefit and enrollment time is over – well, you typically wait until next year. And, from the company point of view, they do not want insurance agents bothering their employees during working hours.
These are only a few of the problems involved with Voluntary Benefits, besides not getting the best of the best –
- Are you getting these benefits at group rates?
- Can you take them with you if you leave your employer?
- Does your employer offer ALL the Voluntary Benefits available?
- Can you enroll 24 hours a day, 7 days a week, all year round?
How employees’ benefit
Voluntary benefits can enhance employees’ quality of life either directly or through the promise of future security. Depending on the specific package, plan participants may be able to:
- Improve their health and wellness.
- Manage personal debts better.
- Alleviate pressures outside of work.
- Save money on products or services.
How businesses benefit
When employees are healthy and happy, they tend to be more productive and less likely to take unscheduled time off. Voluntary benefits can also serve as a passive recruitment and retention tool if employees have positive experiences and share them with others inside and outside the organization.
Why do employers offer voluntary benefits to their employees?
Voluntary benefits allow employers to cover gaps in group health insurance, which in turn, can help workers stay healthy and on the job. Special perks also may attract new talent and keep existing employees engaged and productive.
Do employees want voluntary benefits?
Even if they decline to participate, employees usually appreciate it when their employer offers voluntary benefits. As such, these perks work well as recruitment and retainment tools.
IF YOU ARE AN EMPLOYER
You want to offer more benefits to help your employees, but the extra work involved is time consuming and cost prohibitive.
Using MyNMIN Benefits you can offer as many benefits as you wish at no extra cost to you, we take the load off your HR and payroll personal.
We do all the enrolling, collecting, aggregating, reconciling, and remitting the premiums.
Click Here to find out all the ways MyNMIN Benefits can help you.
WHAT IF YOUR COMPANY DOESN’T HAVE VOLUNTARY BENEFITS?
If you like what you see here on MyNMIN Benefits, show the site to your employer. Tell them you’re interested in the products that are available and have them contact us, by using the information that is located in the “If you are an employer” and we will take it from there.
If they don’t want to be a part of MYNMIN Benefits, all you need to do is pick the products you want from the Products section in the top bar, and we will set up a convenient bank draft for you.
It’s easy when you use MyNMIN Benefits.
WHAT IF YOU’RE SELF-EMPLOYED?
It couldn’t be easier! Just pick the products you want from the Products section in the top bar, and we will set up a convenient bank draft for you.
You can have all the voluntary benefits that the large corporations have at the push of a button.
We at MyNMIN Benefits will answer these questions and more. You’ll have all the Voluntary Benefits, even some that you’ve never heard of, that you can enroll anytime you wish, on-line, without an agent (one will be available if you need to talk to one, using our “Need help?” button) and most are at group rates.
So, sit back and go to the Products button at the top of the page and pick out the benefits you want, all the information is on-line and available for you to read and when your ready to enroll, just click on the enrollment button and you’ll be done in minutes.
Finally, all the Voluntary Benefits you need – all in one place.