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Voluntary Benefits

Let’s design a voluntary benefits program that your employees will embrace.

Voluntary Benefits

Make a good benefits plan great

You’re working hard to manage rising health care costs, and that means making some difficult choices. At the same time, high-deductible health plans and higher out-of-pocket costs are creating coverage gaps for many of your employees. And like anyone, those employees want to feel understood and appreciated — something you can’t achieve with a one-size-fits-all benefits plan.

A customized voluntary benefits program will give employees in your increasingly diverse and multi-generational workforce the choices they want, while closing the gaps in their employer-sponsored coverage. By making a good benefits plan great, you can:

  • Improve employee retention
  • Attract the best new talent
  • Boost productivity
  • Control the overall cost of your plan

Strike the perfect balance for your organization and employees, and do it without affecting your bottom line.

Contact a HUB advisor to get started. 

 

More detail

Give your employees personalized benefits

When you partner with a HUB broker to identify your needs and select the options that work best for you, you end up with a tailored voluntary benefits program that includes:

  • Customized rollout
    Employees can be overwhelmed by too many changes and too many options. By prioritizing the rollout of your plan options, you make it easier for your employees to evaluate their choices.
  • Tailored communications
    Good communication is essential to a successful open enrollment. Whether your employees prefer high-tech or high-touch, a good communications plan will help them understand their options and make fully informed decisions.
  • Managed enrollment
    You don’t have to manage the enrollment process, because we’ll do it for you—from start to finish. Your voluntary benefits will be fully-integrated with your core benefits plan to ensure maximum value and participation.

Contact a HUB advisor to get started.

77%

of employees say that voluntary benefits are an important factor when deciding to accept or decline a job offer.*

Learn how to make a good plan great. Start by getting practical guidance on how to launch a successful, stress-free voluntary benefits program.

Download 7 Steps to a Voluntary Benefits Plan That Really Works.

* Health and Voluntary Workplace Benefits Survey, EBRA, 2015

Test Your Voluntary Benefits Knowledge

It’s a new reality for HR professionals. Voluntary benefits that were once nice-to-have are now essential. Are you prepared?

Give your employees real choices

You can offer your employees real, meaningful choices to meet their lifestyles needs - everything from life insurance with long-term care, to accident and disability insurance, financial planning and wellness and even pet insurance.

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  • Change the Game: Make Voluntary Benefits a Better Option Within Your Organization

    What's stopping your employees from enrolling in your voluntary benefits program? Get some quick tips on how to increase the value and relevance of your voluntary benefits program.

    Start the Slideshow
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    Step #1: Personalize your Benefits
  • Step #1: Personalize your Benefits.

    Employees want benefits that match their life and career stage. Look at your workforce demographics.

    Claims will tell you a lot. Check your employees’ claims history.

    Employees will tell you what they want. Just ask them.

    86% of employees want to be able to personalize their benefits to match their medical, financial and lifestyle needs.* (* EBN, March 2013)

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    Step #2: Close the gaps.
  • Step #2: Close the gaps.

    Health care costs are rising. Your Employees need protection, and employer-sponsored coverage only goes so far.

    Voluntary benefits can make a good plan great. Supplement core benefits and take the sting out of higher deductibles and copays.

    More coverage can actually cost less. Work with ust o find out how funding voluntary benefits can bring overall costs down.

    65% of workers have less than $1,000 on-hand for out-of-pocket medical and hospitalization.* (*Aflac Workforces Report, 2016)

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    Step #3: Pace your rollout
  • Step #3: Pace your rollout.

    Take it one year at a time. Introduce a select number of new options in each year of a three-year rollout, and give your employees a chance to evaluate them.

    Start with the obvious. Your employees will see immediate value in options that offset rising medical expenses. Add financial wellness and lifestyle benefits later.

    Price matters. Employees should and will not enroll in benefits that aren’t affordable.

    Rule of thumb: 1 week of voluntary benefits premiums should cost about 1 hour’s worth of wages.

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    Step #4: Communicate, communicate, communicate!
  • Step #4: Communicate, communicate, communicate!

    Educate your employees on their terms. Find out if they want high-tech or high-touch interactions—or a combination of the two.

    Assist your employees with their plan selections. Employees report higher job satisfaction when they get it.

    Lean on your broker for online, mobile and in-person support.

    41%
    of millennials say a well-communicated benefits package makes them less likely to leave their job.* (* Aflac Workforces Report, 2015)

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    Step #5: Make enrollment easy.
  • Step #5: Make enrollment easy.

    People appreciate options. Let your employees choose how they enroll. Some prefer paper forms. For others, digital is the way to go.

    People also appreciate help. Support your employees during enrollment with the online and in-person resources they need.

    Get your broker involved. Your benefits broker can recommend and deliver the best enrollment process for your organization.

    7/10 employees say enrollment is about as much fun as doing their income taxes.* (* Bankrate Health Insurance Pulse survey, 2014)

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    Step #6: One more fix.
  • Step #6: One more fix.

    Partner with the right voluntary benefits broker. It’s your broker’s job to understand your unique culture, lay out a multi-year strategy, identify the best options for your organization, develop an implementation plan that will drive enrollment.

    With HUB, you can achieve an enrollment rate of 30% or better without exposing your employees to a hard sell.

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