Voluntary Plans
Voluntary Plans
Many American families do not participate in insurance plans like the ones listed below unless they are offered by an employer. When you offer voluntary plans like these you can count on recruiting and retaining more skilled, sought-after employees, and can potentially lower your overall medical premium cost.
BenAlliance can help you select the right voluntary benefit package geared specifically toward the needs of your company and employees, educate your employees about which plans are the right ones for them specifically, help your employees enroll in all plans through one simple online portal (accessible on smart phones, tablets or computers), and administer all benefits with simplicity offering you the most streamlined benefits experience possible.
Dental & Vision
Many affordable voluntary dental plans offer 100% coverage for basic services, 80% for things like fillings, extractions, and oral surgery and 50% coverage for major services. Some dental plans even include orthodontia benefits. Vision plans can offer low copay benefits for annual checkups and durable goods like prescription glasses or contacts.
Life
Voluntary life insurance can be offered as term or permanent coverage, can be portable and/or convertible and in many cases is offered on a guaranteed-issue basis. This last feature is especially appealing to those employees who cannot qualify for individual life insurance due to ongoing medical issues.
Disability
Voluntary short and long-term disability are offered at a very steep discount over what your employees would find in the individual market and can also be purchased on a guaranteed-issue basis.
Cancer/Critical Illness
These plans are offered to help employees offset many costs associated with the diagnosis and treatment of certain life-threatening illnesses. Associated costs can be related to payment of copays, deductibles, coinsurances and non-qualifying durable medical equipment, or non-medically related costs such as travel expenses for out of town treatments, household upkeep and income replacement.
Accident
This kind of policy will provide a benefit for medical expenses related to a covered accident. These policies can either pay on a per-medical code basis or as a lump sum.
Medical Gap
This type of plan is most often used in conjunction with major-medical group health to offset deductibles, co-pays and co-insurance. This can allow you to offer a higher deductible plan at a lower premium cost to bring the total out of pocket maximum down to a more tolerable level for your employees while keeping your overall premiums managed.
