United Benefit Advisors Insight and Analysis Blog

How Voluntary Benefits Are Rising to the Top

By Bill Olson, VP, Marketing & Communications at United Benefit Advisors
  Nov 18, 2013 2:12:00 PM

describe the imageHealth care reform and the shift towards a defined-benefits model have moved voluntary benefits from the fringes of corporate benefit plans into the spotlight. Skyrocketing costs and ballooning compliance duties have pushed more employers to a tipping point, and companies are slashing or eliminating their medical plans. Those shrinking benefits, though, can crush a company’s ability to recruit and retain a top-notch workforce. To remain competitive, many employers are turning to ancillary (voluntary) products as a way to lighten the impact of reduced health care coverage and to broaden the overall appeal of their compensation package.

Policies like flextime, corporate and social responsibility charters and voluntary benefits may become the cornerstones of your recruitment and retention strategy. In fact, United Benefit Advisors predicts, based on results from the 2013 Ancillary Products Survey, these policies will be a greater differentiator in 2014 than ever before.

In an upcoming Employee Benefit News webinar, The Hottest Voluntary Benefits for 2014, UBA CEO Thomas Mangan and Dale Alexander of Alexander & Company, a UBA Partner Firm, will explain the significance of this shift and how businesses can use voluntary benefits to their maximum advantage.

The presentation will cover:

  • What are the different categories of voluntary benefits and which ones promise the greatest benefits to employees and clients
  • Why voluntary benefits should be an important part of a corporate benefits strategy
  • How voluntary benefits can increase the ROI on employee benefits
  • How to use voluntary benefits to increase employee loyalty and satisfaction

The webinar will take place on Tuesday, Nov. 19, 2013 at 2 p.m. ET/11 a.m. PT and will feature a live Q&A.  Click here to register.

Topics: ancillary benefits, health care costs, ACA, voluntary benefits, employee benefits, health care reform, health care