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Voluntary Benefits: An Affordable Way to Enhance Benefit Offerings

benny General News

Advisors often have to deliver bad news about the rising costs of their clients’ medical plans. With these growing cost pressures, many small employers feel that they simply can’t afford to offer ancillary benefits. And that puts them at a hiring disadvantage in a tight labor market. You can bring some good news to your clients with voluntary benefit options at little or no cost to employers. Voluntary benefits are becoming increasingly popular because they offer an affordable way for employers to enhance their portfolio of offerings.

A voluntary benefit plan is also good news for employees because it allows them to gain valuable coverage through group purchasing power. Benefits like dental and vision coverage can also soften the blow of higher out-of-pocket medical costs. A BenefitsPro survey reveals that employees appreciate voluntary benefits, and they’re willing to pay for them:
• 62% of employees under 50 wouldn’t consider working for a company that didn’t offer voluntary benefits.
• 83% of workers with healthcare coverage say they would enroll in a voluntary benefits program without expecting their employer to pay for it.

You can give your clients good news with CoPower ONE™ Voluntary. For groups of 2-99, it offers access to Delta Dental with some of the largest dentist networks in the United States. For those who need orthodontics, CoPower ONE™ Voluntary w/Ortho is a great option. Members also get access to VSP, which offers savings on glasses, contact lenses and exams, and laser vision correction. There is also a Diabetic Eyecare Program as well as a 60% discount on the Truhearing® Digital Hearing Aid. All CoPower members get free access to CoPower Vantage.™ With the rising cost of prescriptions, employees will appreciate the discount prescription card with savings of up to 75% (discounts average roughly 30%). Also included is BenefitHub, which offers discounts on dining, shopping, and a host of other attractions and services, making those little luxuries easier to afford.

To learn more, contact your LISI Regional Sales Manager.