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Voluntary benefits survey

voluntary benefits survey Source: EBRI, Views on the Value of Voluntary Workplace Benefits: Findings from the 2015 Health and Voluntary Workplace Benefits Survey, 2015; 63% of employees say that benefits are one of the reasons they work where they do. Companies are ranked based on new business/enrolled voluntary product insurance premiums as reported on their Form 5500 Filings. The goal of the survey was to gauge how healthcare reform might have changed the way brokers approach the benefits market. Because voluntary benefits are paid directly to policyholders, unless otherwise assigned, they can be used to help pay housing costs, utility bills, car payments, deductibles, and co-payments in Voluntary benefits are benefits which are offered in addition to medical, dental and vision coverage. This report examines public opinion surrounding voluntary workplace benefits. However, many expect this number to continue increasing in the years ahead. A flexible benefits package can provide a competitive advantage, one that attracts highly talented people and retains them longer. If benefits packages are to meet individual needs, employers need to protect core benefits while offering flexibility and choice. A big thank you to everyone who participated in the survey! Verbatim. ” september 2016. S. Employers planning to offer voluntary benefits like hospital indemnity coverage and EAPs grew Get Voluntary Benefits Get voluntary benefits If you're an employer who's interested in voluntary benefits for your employees or a broker who would like coverage for your clients, fill out the form, and we'll call you for a no-obligation chat. employers of over 4. 3%) do not know what voluntary benefits are. 5 8. If your business is considering adding new benefits or changing them in 2017, this post will help provide sample survey questions to ask employees to ensure you have benefits plans that meet their needs and expectations. Evaluating Your Clients’ Need for Voluntary Benefits Packages. One option is to copy and paste it to a page on your office intranet site or another website. Read more about MetLife’s Employee Benefit Trends Study and how it can provide insights to help you help your workforce. Among the most popular of the voluntary healthcare related benefits are accident coverage, critical illness insurance and hospital indemnity plans. A recent survey conducted by Aflac of 1,500 businesses showed that employers who started to offer voluntary benefits saw a 51% decline in workers' compensation claims. ” 14 Prudential Financial, “2009 Life Insurance Thought Leadership Survey. That’s up from 63% in the prior year. It also considers aspects such as overall job satisfaction, employee motivation, company goals, and workplace flexibility. If you’re considering offering more voluntary benefit options, it may be a good idea to take a survey of employee needs. Cal Broker’s Voluntary Benefits Survey December 1, 2020 Cabroker We’ve been at it again… this time we’ve contacted major players Aflac , CHOICE Administrators , The Guardian Life Insurance Company of America , MetLife , Colonial Life in the voluntary space to find out what you need to know now. According to a 2018 survey by consultancy Willis Towers Watson, 69% of employers said voluntary benefits will be important to their company value proposition in the next three to five years, which is nearly double the The Willis Towers Watson “2018 Emerging Trends: Voluntary Benefits and Services Survey” supports this. By adopting a person-centered focus on services, providers can enhance the quality of life of persons served and improve their bottom line. A recent survey conducted by Aflac of 1,500 businesses showed that employers who started to offer voluntary benefits saw a 51% decline in workers' compensation claims. In 2013, Eastbridge conducted their first joint survey with BenefitsPRO. SFSPSurvey@Westat. OneAmerica ®-Harris Poll illustrates appetite as American workers seek to protect their financial futures . Read more: The “new normal” in voluntary benefits Offering an array of voluntary benefits that help workers to safeguard their financial security, based on personal and family needs, is an increasingly important component of total rewards strategies. The peer-reviewed journal Health Affairs has published an article with key findings from the 2020 survey: Health Benefits In 2020: Premiums Inch Higher, Employers Respond to Federal Policy. 5 p. Therefore, it's important to understand what benefits your employees value most. 3 billion. Mercer Health & Benefits Administration LLC MARSH & MCLENNAN COMPANIES 2018 VOLUNTARY BENEFITS OVERVIEW OCTOBER 17, 2017 Jennifer Holliday, Principal Mark TeStroete, GVUL Client Executive Alexandra Wood, Manager, Onsite Enrollment Services . S. Providing excellent employee benefits is crucial to a company's success. This is a very good question that you’ll need to make sure is within the employee benefits survey as it will tell you if 2013 Voluntary Benefits Survey Voluntary employee-paid benefits are becoming more and more popular as employers struggle to offer employee benefits amid rising costs and shrinking budgets. Footer Links COMMITTED TO The latest insights on employee benefits, with over 300 participants Discussion on emerging trends, such as financial wellbeing Predictions for future trends – supported by real-world data Expert analysis of the key findings, from our own consultant team Insight on how COVID-19 has impacted Voluntary Benefits Survey 2019 May 1, 2019 Cabroker Voluntary employee-paid benefits — called supplemental benefits by some carriers –are continually popular. A recent survey conducted by The Hartford captures how employee and employer attitudes are shifting as the pandemic drags on. Findings from a nationwide survey underscore a knowledge gap between employers, among which 77. Still, these benefits can be worth so much more to both your business and your employees. The FEBS was designed to measure the importance, adequacy and value of employee benefits to ensure that available benefits align with best practices and employee needs. ” september 2016. 3%) do not know what voluntary benefits are. [ii] The nationwide survey was conducted online by Harris Voluntary benefits let you offer employees a range of great options — from Life and Disability insurance to Vision, Dental, Accident, Critical Illness and Hospital Indemnity coverage. Voluntary benefits are an important option in attracting and retaining top performers. Findings from a nationwide survey underscore a knowledge gap between employers, among which 77. Our solutions can help cover the expenses and the interruption of income that can come with an unexpected medical emergency - and help protect employees' Wealth Voluntary benefits continue to be a smart way to attract and retain talent. Employee benefits are a large part of an organization's total budget and reward The survey has closed. Voluntary response survey example: A classic example of a voluntary response survey is American Idol, the singing competition television show created by Simon Fuller. Note: The survey was conducted during April 2020 and 55 brokers active in the voluntary business completed the survey. All of this leads one to believe that traditional and non-traditional voluntary benefits will play a more According to Willis Towers Watson 2018 voluntary benefits survey, Identity theft protection is the #1 most requested voluntary benefit and 63% of organizations intend to offer this coverage by 2021. Source: Mercer, Inside Employees' Minds, 2015; Benefits to employees. 46 2020 Employee Benefit Trends Study A 2019/2020Voluntary Benefits and Emerging Trends survey found that 79 percent of employers are expanding or enhancing their voluntary benefits portfolio. 7 7. Employees also like the ease of purchasing these benefits via payroll deductions. A voluntary employees' beneficiary association under Internal Revenue Code section 501(c)(9) is an organization organized to pay life, sick, accident, or similar benefits to members or their dependents, or designated beneficiaries. It highlights changes in employee viewpoints over time, especially as they relate to valuation of benefits. 2+ million employees. Brokers share their go-to supplemental sales partners, including Aflac and Unum, in EBA’s annual voluntary benefits survey. Voluntary benefits have increased over the last several years. S. Benefits package ratings and access to voluntary benefits have remained stable. Confidence Why voluntary benefits should be part of your core benefits strategy Voluntary benefits are a creative way to help you meet more of your company’s and employees’ needs, allowing you to: Add flexibility: In today’s changing workforce, 70% of millennials and 59% of Gen X employees are looking for more flexible benefits. They can increase employee loyalty, boost recruitment efforts, and show employees that you care about their wellbeing. Since 1957, the Voluntary Support of Education (VSE) Survey has collected data on fundraising at U. 6 billion in 2013, a 13 percent increase from the prior year. they do not constitute comprehensive health insurance coverage and are not intended to cover all medical expenses. Brokers share their go-to supplemental sales partners, including Aflac and Unum, in EBA’s annual voluntary benefits survey. Results of the Federal Employee Benefits Survey The Federal Employee Benefits Survey (FEBS) is the primary employee benefit data collection tool. Jilek says the company continues to see a trend in this direction. Today’s employment deal will need to evolve to encompass a broader range of employee benefits, including voluntary as well as workplace perks. Note: Voluntary insurance benefits work hand in hand with major medical plans to help ensure individuals who are sick or hurt have the funds needed to pay health-related costs their primary insurance might not cover, as well as other out-of-pocket costs. Employee Benefits Survey Questions . Currently, 58% of employees report being offered voluntary benefits at work. A rising number of employers consider voluntary benefits to be essential to remaining competitive in today's labor market. Voluntary benefits align with employee financial wellness and provide other features to meet employees’ needs including group savings and discounts and education and support tools. The 2020-2021 Aflac WorkForces Report is the 10th annual research study examining benefits trends and attitudes. 0 8. The June survey polled 231 advisers and asked them to share which vendors they most like to work with. Three in four workers say voluntary benefits appeal to multiple generations within the workforce, and 74% say Voluntary Workplace Benefits Survey. Voluntary Benefits. Just because employees responded positively to a benefit in a survey does not automatically mean that they will stay with your company if they should receive a better offer. This survey was fielded in December 2010, right after the benefits enrollment period for many organizations— so benefits and the enrollment process would be top of mind for survey respondents. 5% reported offering voluntary benefits, and employees, almost half of whom (49. Survey findings addressed several of the most prevalent types of innovative and miscellaneous benefits. Voluntary Benefits Survey-CLAS The Human Capital Division would like to know more about your preferences in order to make better decisions about employee voluntary benefit plans. Voluntary benefits have their place, but they must be approached with caution. This white paper offers information gathered from a survey of 1,000 full-time, U. It is the authoritative source of data on charitable giving to educational institutions in the U. These benefits would typically be extremely expensive for employees if they purchased them outside the group plans provided by their employers. "Unexpected expenses don’t just impact an employee at home. Among other topics, the survey examines a broad spectrum of workplace-benefit issues, with a particular focus on voluntary workplace benefits. Voluntary health product sales were $2. 0 9. 71% of employees surveyed said voluntary benefits boost the value of their company’s benefits program. 3%) do not know what voluntary benefits are. Worksite Sales Survey Voluntary benefits are essentially benefits that are offered in addition to the medical, dental, and vision coverage. The 2018 Emerging Trends: Voluntary Benefits and Services Survey was conducted by Willis Towers Watson in November 2017. workers who have the option of purchasing employer provided voluntary benefits. com Voluntary benefits relieve a key concern for employees: While the survey revealed that paying for out-of-pocket medical expenses would be the top financial concern for a plurality (42%) of workers facing a debilitating injury, a critical illness diagnosis or a hospitalization, 58% say their top concern would be lost wages from work, the ability They’re starting to ask about voluntary benefits, about critical illness, hospital indemnity. In fact, many employees are focusing on just getting by from paycheck to paycheck. Coverage: What Benefits Employees Have Today Employees receive a wide variety of benefits from their workplace, both employment-based as well as voluntary benefits. More Another popular voluntary benefit trend in recent years has been pet insurance, and the survey found that 25% of employers offer this perk. There has also been an enormous, heightened interest in enrolling in disability and life plans. In fact, personnel who were given optional elections were more likely to be satisfied with their job and less likely to be searching for a new one, according to an Aflac survey. 5% reported offering voluntary benefits, and employees, almost half of whom (49. Employee Benefit Trends Study found that 60 percent of employers agree (and 34% strongly agree) that the reason they offer voluntary benefits is to replace employer-paid benefits programs in order to reduce benefits costs. Start with one question Employers can help ease these concerns by offering voluntary benefits and providing clear benefits communication and education. A recent Mercer survey revealed that 22% of employers are enhancing voluntary benefits such as critical illness insurance, and 20% are adding or improving behavioral health care benefits. The survey was taken mostly by larger employers, with 80% of respondents having 1,000 or more employees. Studies have shown that offering voluntary health benefits may help with reducing the number of workers’ compensation claims. 5% reported offering voluntary benefits, and employees, almost half of whom (49. A national survey by Sun Life Financial concludes employers can raise informed participation in voluntary benefits through live assistance to explain benefits and outreach on disability risk. So while these opt-in benefits may be voluntary for employees, they’re becoming less and less so for Studies have shown that offering voluntary health benefits may help with reducing the number of workers’ compensation claims. voluntary benefits. All voluntary benefits are paid fully by the employee or are at no cost to the employee. group accident, critical illness and hospital care indemnity insurance policies pay limited benefits only. VOLUNTARY EMPLOYEE BENEFITS ARE NOW VIEWED AS ESSENTIAL. 2 The wide range of options available through both traditional and non-traditional voluntary benefits make them very attractive to employees. Survey: Employers Use Voluntary Benefits to Aid Employee Financial Wellbeing While stress does not always stem from work, it often filters into the workplace. medical, vision and dental) are sufficient in helping cover unplanned medical expenses, Voya’s new survey also found that roughly 7-in-10 employees (71%) plan to spend more time reviewing voluntary benefit options offered by their employers as a result of COVID-19 You might be surprised by the survey results. they do not constitute comprehensive health insurance coverage and are not intended to cover all medical expenses. A LIMRA survey shows that new annualized premium of voluntary benefits (benefits purchased at the worksite) grew 9 percent in 2013, totaling $4. The CARF standards are centered around a person-first philosophy. Voluntary Benefits in the Large Case Market Cost: $2,000; published 2021 The Voluntary Benefits in the Large Case Market Spotlight™ Report analyzes the opportunities and current results for selling voluntary benefits in the large employer market and updates Eastbridge’s previous report in 2019 on this subject. These benefits offer employees the convenience and the discounted rates that they would not have access to on the individual market. workers with access to and participating in employer-provided benefit plans. 18 p. According to Glassdoor’s Employment Confidence Survey, 4 out of 5 employees prefer benefits or perks to a pay raise. Mercer’s National Survey found that 60% of employers say they are offering VB as a way to reduce employee financial stress. Employers Focus On Costs And Features In Voluntary Benefits: Survey. 5% reported offering voluntary benefits, and employees, almost half of whom (49. This annual survey of employers provides a detailed look at trends in employer-sponsored health coverage However, this year could be the perfect opportunity to bring attention to certain, often-overlooked voluntary benefits. The Employee Benefits in the United States, March 2020 bulletin includes additional details on the coverage, costs, and provisions of employer-sponsored benefits, and will be published shortly after this news release. You can also circulate and email with the direct link or post to a closed group on Facebook. According to a survey, benefits brokers are selling more voluntary benefits year-after-year. Share this on Twitter. The 2020 survey covers the entire United States and provides key findings for 130 health systems, representing over 1,000 hospitals and 2. Indeed, in a survey of employers by Willis Towers Watson, 92% of respondents said they expect that voluntary benefits and services “will be at the forefront of their strategic thinking and important to their employee value proposition over the next three to five years,” which was up from 59% in 2013. The chart below shows the importance each generation places on various benefits. higher education institutions and a select group of private K-12 institutions. Younger employees aged 18-34 (89%) and 35-44 (84%) prefer benefits or perks to pay raises when compared to those aged 45-54 (70%) and 55-64 (66%). More than 90 percent of employers now offer at least one as part of their benefits program, according to Mercer’s National Survey of Employer-Sponsored Health Plans. 5% reported offering voluntary benefits, and employees, almost half of whom (49. " Survey Methodology After you roll out voluntary benefits, be sure to judge your employees’ reactions and adjust benefits accordingly. S. In other words, providing the best voluntary benefits Survey Says: Group Life Insurance a Desirable Voluntary Employee Benefit. , Voluntary Benefits, Work Life Balance benefits, business casual, educational assistance benefits, employee benefit trends, employee benefits, employee benefits package, essential health Findings from a nationwide survey underscore a knowledge gap between employers, among which 77. The survey found employers are expanding their menu of voluntary benefits and services to help workers address their overall financial well-being and security. They can lead to distraction and lower productivity in the workplace as well. g. By Press Release InsuranceNewsNet. cigna, “2016 voluntary benefits consumer survey. While it might seem like a hefty task, eliminating complexity with a simple survey is the best way to get feedback from employees. This year’s survey highlights shifting strategic benefits and wellbeing priorities in response to the COVID-19 pandemic. Share this on Linkedin. 3 million employees, revealed that 69% of them believe voluntary benefits will be “a very or more important” element of their overall rewards strategy in the The survey also reported that 61 percent of employees selecting voluntary benefits do so because of the lower cost versus purchasing on the open market. Please help us ensure that the NIH excels at providing a safe, effective, and engaging workplace for all our employees. The following statistics show a rising trend in this area of benefits that can be Voluntary benefits are benefits which are offered in addition to medical, dental and vision coverage. Voluntary benefits are non-wage compensation that the employer chooses to offer employees. Zazen Benefits provides Employee benefits communications and insurance product understanding to each of your employees. "Voluntary benefits that address financial concerns are a continuing trend as more employers are realizing the impact money-related stress has on their workforce," says Loughran. The survey, which presented responses from 336 large U. According to a 2019/2020 Voluntary Benefits and Emerging Trends survey, 79% of employers are looking to broaden or enhance their portfolio of benefits. While most working individuals (84%) believe that their core benefits (e. 3%) do not know what survey indicated voluntary benefits offered by employers will more than double over the next five years. Contacts The benefits of a person-centered care model. Even though they have to pay the premium for the benefit, employees can choose voluntary Employers also agree: Five years ago 41% would have said that voluntary benefits have little importance to their employee value proposition and benefits strategy. S. The Aflac survey showed that 70% indicated they would sign up for extra offerings if A 2013 survey of CFOs, found that 74 percent agreed or strongly agreed that offering voluntary employee benefits is a cost-effective way to increase employee satisfaction with overall benefits. At-Work Perks At-work perks aim to improve the workplace experience and, in turn, increase employee satisfaction and productivity. In fact, according to a 2018 Willis Towers Watson survey, 75% of organizations particularly like voluntary benefits for their ability to provide personalized options to staff, allowing for tailoring to different generational or income brackets. The June survey polled 231 advisers and asked them to share which vendors they most like to work with. 2021 Voluntary Survey: We want your input! Participate in this year’s Eastbridge/BenefitsPRO voluntary survey to share your input and hear from other brokers on the state of the industry. Group-rate premiums are generally lower Voluntary benefits are benefits which are offered in addition to medical, dental and vision coverage. Voluntary benefits can prove to be smarter, more cost-effective alternatives for covering unexpected expenses. 2 cigna:“2016voluntary benefits consumer survey. Employee benefits survey template and sample questionnaire is designed by HR experts to gauge the levels of employee satisfaction concerning employee benefits offered. In fact, employee benefits are so important that 79% of workers would choose additional benefits to a pay raise. We use your input to gauge how we are doing, where we can improve, and create positive changes throughout the agency. How voluntary benefits improve financial wellness 13 Prudential Financial, “2007 Life Insurance Thought Leadership Survey. p. But determining the right mix of voluntary benefits requires research to ensure you’re offerings meet employees’ needs. They mainly focus on health, wellness, welfare, wealth management, and retirement. How? The Sun Life Financial survey “Voluntary Benefits: What is controlling employees’ choices?” was conducted online using a survey panel. Data come from the 2015 EBRI/Greenwald & Associates Health and Voluntary Workplace Benefits Survey (WBS). 1. Make sure your employee engagement survey includes a least a handful of survey questions measuring perceptions of employee benefits. S. Benefits and Communications Learn how a comprehensive approach to benefits and communications can be critical to both the company and its employees throughout the pandemic and beyond. Findings from a nationwide survey underscore a knowledge gap between employers, among which 77. Cost: $1,500; published 2020. S. Ready to use free template with survey questions on employee benefits. Yes, the survey is voluntary, but participation is encouraged and valued. group accident, critical illness and hospital care indemnity insurance policies pay limited benefits only. MetLife's survey, conducted by Roper Starch Worldwide, shows that the most popular voluntary benefits are dental insurance, purchased by 55 percent of workers; disability coverage, 36 percent These benefits can be offered as enhancements to existing (paid) benefits. Though COVID-19 has hindered many segments of the life and health industry, the voluntary benefits space remains in good shape for insurers. Voluntary benefits, otherwise known as supplemental insurance or employee-paid benefits, are products, benefits, or services offered by employers but mostly or fully paid for by employees via payroll deductions at a reduced group price. 2 012 34 5 678 9 10 Voluntary employee benefits program Workplace safety Core employee benefits Employee Benefit Adviser, in partnership with business intelligence data analytics firm miEdge, introduces the top 25 large-group voluntary insurance carriers in the country. ‍ Yet there is one Voluntary Benefit not listed on items one through nine above. Contact. Employers today recognize this and see voluntary benefit s as a way to ease the impact financial stress has on employee wellbeing and performance. Phone: 1-855-489-0330. Once you have prepared your employee benefits survey, you can have it up and running in moments. ” Newly released findings from Willis Towers Watson’s 2018 Emerging Trends: Voluntary Benefits and Services Survey of large employers show that: Only a handful of respondents (5 percent) say voluntary benefits will have little importance to the value they offer employees through their total rewards strategy. That percentage has shrunk to only 5% in 2018, according to one survey. ” And, because voluntary benefits are paid for by employees—with the employees able to access The good news is the general value of voluntary benefits resonates with employees. For example, if the employer offers life insurance, there could be a voluntary benefit allowing the employee to pay for upgraded coverage. Voluntary benefits are a great way to give your employees greater choice in what they get out of work, and companies can’t underestimate how important choice is; 65% of employees said in a recent survey it’s important for their employer to offer them voluntary employee benefit services. “These are some of the areas where we’re seeing great potential for growth,” she states. Findings from a nationwide survey underscore a knowledge gap between employers, among which 77. Viewers get to have a say and vote for contestants via the mobile app, online, or via text. And without access to an employee purchase program as a voluntary benefit, 44 percent of workers/ spouses of workers said they would pursue online educational services such as college courses, professional certification courses and SAT/ACT preparation for themselves or their family. 29 p. These survey questions should provide insight into an employee’s perceptions on the benefit offerings and an employee understanding of their benefits. 1 2015 LIMRA U. Indianapolis, August 24, 2018 We expect to release the 2020 Employer Health Benefits Survey on Thursday, October 8. Justin Held, CEBS February 9, 2021 Education, Employee Benefits, Employee Benefits Survey, Flexible Work Options, Health Care, Insurance, Multiemployer, U. What do employees say are the biggest advantages to voluntary benefits? Prudential’s survey shows cost is number one. “Historically, employers offered voluntary benefits to supplement their core health and retirement benefit coverage,” said Lydia Jilek, director, Voluntary Benefits, Willis Towers A new survey from Willis Towers Watson found that about eight in 10 employees (79%) think voluntary benefits enrich existing core benefit plans by offering more personalized benefits to employees that fit their needs and lifestyle. Voluntary Benefits Survey; Share this: Share this on Facebook. We greatly appreciate your participation in the SFSP Integrity Study. What are some of the essential detection features to look for in identity theft protection? MetLife’s 12th Annual U. Transamerica Employee Benefits offers a comprehensive suite of supplemental health and life insurance products designed to help fill the gaps major medical insurance leaves open. A survey revealed that 70 percent of employers believe their current benefits offering meets their employees’ needs—but only half of employees actually believe that notion. According to a new LIMRA study, an equal percentage (30%) of employers ranked costs and In the Aflac survey, employees who were offered voluntary benefits were 19 percent more likely to be satisfied with their jobs and 14 percent less likely to look for a new job in the next year. We are considering Legal Assistance and Identity Theft protection. They can choose the benefits that work best for them, and their families. 9 9. There is clearly a disconnect between the working and managing populations. The surveys, conducted by Kantar, captured responses from 1,200 employers and 2,000 employees across the United States in various industries. But viewers can vote more than once. Across all five years of the survey, employees have indicated that they need sufficient time and tools — at least three weeks and three types of communications — to make good benefits Workplace Benefits Survey (WBS). Fifty-seven percent of brokers are now selling or cross-selling voluntary benefits, which is up from 48 percent in 2015. 4 Student Loan Hero survey (2017). Now more than ever employers need to embrace voluntary benefits for employees. Buck’s Financial Wellbeing and Voluntary Benefits Survey explores how employers are using voluntary benefits to support the financial, physical, and emotional wellbeing of their employees, expanding their benefit options to address the needs of their workforce, and re-evaluating how they measure success. The survey was conducted to cover 152 employees and 151 HR professionals in companies with at least 5000 people. A survey by Willis Towers Watson found employers who tailor their benefit plans to meet employees' needs Survey respondents who provide voluntary benefits said that doing so helps them meet broad organizational goals by providing flexibility, increasing variety in the benefits offer, recognizing and addressing diversity, and responding directly to employee needs. According to the results of Buck’s 2020 Financial Wellbeing and Voluntary Benefits survey completed before the pandemic hit, it’s clear that employers are deeply aware of the financial stress most Americans struggle with every day. The studies have shown that the more your employees understand their total Benefit package offered to them, including Health and Voluntary Benefits, the more they will feel cared for by their employer. 1 EBRI/Greenwald & Associates Health and Voluntary Workplace Benefits Survey (WBS) (2016) 2 Pricewaterhousecoopers, The keys to corporate responsibility employee engagement (2014) 3 Kaiser Family Foundation and Health Research & Education Trust, Employer Health Benefits, 2017 Annual Survey (2017). Research has long shown that financial wellbeing is critical to promoting job satisfaction, loyalty, productivity, and engagement. No part of the net earnings of the association may inure to the benefit of any private shareholder or individual. In fact, according to a survey released by the American Institute of CPAs in November 2018, 80 percent of people surveyed shared how they’d “choose a job with benefits over an identical job that offered 30 percent more salary but no benefits. The Best Selling Voluntary Benefits Historically. According to a recently released research report from Voluntary benefits program was considered significantly less important than the top priorities of attracting/retaining quality employees and controlling costs (n = 215) Source: Online Survey of Voluntary Benefits, August 2011 3. So the Voluntary Benefits they like must be very important to them. The voluntary benefits we offer (Life Insurance and AD&D insurance) are 100% paid for by our company. They’re wondering how many people are taking up the optional life insurance offering. Among the voluntary benefits that can help with unexpected expenses are: Employee purchase programs that allow workers to purchase consumer products and services through payroll deduction when they are unable or prefer not to use cash Brokers and employers are increasingly looking at voluntary benefits, such as critical illness insurance or accident expense insurance, as a way to reduce risk to employees – with the added benefit of minimizing the “sticker shock” an employee might experience moving to an HDHP from a lower-deductible PPO plan. 3%) do not know what Brokers and Voluntary Benefits – Growth in a Changing Market. voluntary benefits survey