Walker Insurance and Employee Voluntary Benefits Packages

Walker Insurance and Employee Voluntary Benefits Packages

With the diverse needs of employees in today’s workforce, employee benefits packages are one of the most important factors in recruiting good employees. A robust package that includes voluntary products helps employers acquire and retain a talented, productive workforce, and Walker Insurance is a leading producer of employee benefits packages with this goal in mind.

The voluntary products have become increasingly more important since the health care reform act was implemented, and includes critical illness, accident, supplemental medical expense, hospital indemnity and cancer, and dental and vision policies.

Much of the recent research indicates that most employees prefer to purchase their benefits through the workplace, dependent on what is being offered. Those who favor purchasing benefits at work cite the reasons as convenience, as well as the ability to pay via payroll deduction, and perhaps the less desired need to research all the different plans available on the open market, as top reasons for their preference.

Employers also benefit by offering voluntary products

Employers use voluntary plans to offer employees dental, vision and life insurance at group rates, which are lower than what employees would pay if they purchased these plans on an individual basis. Voluntary plans offer many benefits to both the employee and to the employers.

For one, they can fill in the gaps of a limited employee benefits package. If benefits are currently limited to health and dental, adding additional insurance would help address other employee needs. In addition, pre-taxed dollars can be used to pay for these plans. The cost of voluntary plans can be conveniently deducted from paychecks with pre-tax dollars (FSA/HSA/HRA), which can help employees save on their purchase.

Employers who offer a variety of benefits look more attractive to current employees and to new hires, and this can help encourage company loyalty by increasing employee satisfaction. Employees who have dental benefits also tend to routinely get dental care, compared to those who do not have dental insurance.

According to a National Association of Dental Plans Consumer Survey, people who do not have dental coverage are 2.5 times more likely to not visit their dentist. Bad oral hygiene can be very costly, as oral infection has been tied to cardiovascular disease, diabetes, even Alzheimer’s, HPV and more.

Add to this the protection to the families in the event of death or serious injury of an employee and it’s easy to see how Walker Insurance and voluntary benefits packages can create a much happier and productive work environment.