Group Insurance Benefits ExplainedGet the details, guidelines, pros and cons, and future outlook of Group Insurance Benefits from the specialists

Creating a Healthy Workplace

With the rising costs of healthcare and group health insurance, more and more attention is being focused on employee wellness. Healthier employees mean less absenteeism, fewer medical needs and ultimately lower medical costs and health insurance premiums.

Initially, programs were launched to encourage employees to live a healthier lifestyle by eating better and exercising to lose weight; by quitting smoking; by decreasing alcohol consumption; and finding ways to reduce stress.

Professionals now realize that additionally an important facet of any employee wellness program is to create a healthy workplace.

Creating the healthy workplace includes good health management on site, active group wellness activities, a supportive environment for employee wellness programs, and open communications systems. Read the rest of this entry »

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Voluntary benefits cover expenses not paid for by traditional health insurance. Voluntary benefits include disability, accident, critical illness, cancer and supplemental health insurance and cover expenses such as loss of income, travel to treatment centers, child care and the like in the event of unexpected illness or injury.

With the rising cost of health insurance, voluntary benefits are becoming more popular for both employers and employees.

Voluntary Benefits from the Employer’s Point of View:

• Employers can offer their employees more comprehensive coverage.
• Since voluntary benefits are 100% employee paid, there are no additional costs to the employer.
• The employer’s payroll taxes may be reduced if the employee’s contribution is paid with pre-tax dollars.

Voluntary Benefits from the Employee’s Point of View:

• Employees don’t have to use their savings while recovering from an unexpected illness or accident.
• Benefits are paid directly to the employee when they need them.
• Premiums for the voluntary benefits are based on group rates and so are lower than if the employee purchased the coverage on an individual basis and are typically just a few dollars per month per plan.
• Employees can save on payroll taxes in many cases because the premiums are paid with pre-tax dollars.

Thus, voluntary benefits are a good idea for both employees and employers and is something that you should consider.

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