Voluntary benefits & why they matter
Voluntary benefits are increasingly important in today’s workplace benefits strategy, giving employees the option to expand beyond core offerings to build a benefits package that fits their individual needs.
Because the benefits are optional, plan members can tailor their benefits to fit personal needs, financial goals, and other priorities. These benefits supplement traditional offerings and provide added protection, wellness support, and other resources not included in standard benefit packages. Opting in usually means lower costs than if purchased independently, too, as coverages typically come at group pricing.
Voluntary benefits can span several categories. Highlights include:
Health & wellness
- Additional dental and vision options
- Accident insurance
- Critical illness coverage
- Disability insurance
- Gym memberships
Finance
- Financial counseling
- Student loan repayment assistance
- Mortgage protection insurance
Miscellaneous
- Pet insurance
- Legal assistance
- Employee assistance programs (EAPs)
- Identity theft protection
- Travel insurance
Specific offerings vary by employer, so be sure you understand your choices.
Voluntary benefits give you the flexibility to build coverage around what matters most to you. Taking a few minutes to review and understand your options helps ensure you, your family, and even your pets have all the protection you need.
