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It’s time to tell a new story about voluntary benefits

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in Centerpiece,Compensation and Benefits,Human Resources

by Heather Lavallee

benefits clipboardThe Affordable Care Act (ACA) has precipitated a new appreciation for voluntary benefits. Businesses are enhancing their benefits packages to offset rising health care costs and to allow employees to fill the gaps left by high-deductible health plans.

As the health care landscape has changed, it’s time to tell a new story about voluntary benefits.

Voluntary benefits essential

In 2013, Towers Watson surveyed 320 large employers about their health care and total rewards strategies in light of health care reform. Nearly half expected voluntary benefits and services to become more important over the next five years. Most employers offered disability insurance (80%) and accident insurance (68%). Coverage for critical illness was cited as one of the top offerings being considered over the next two years.

You might think of voluntary benefits as just nice to have. Increasingly, they’re “must haves” for organizat...(register to read more)

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