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HSA Administrators, Clarity Benefit Solutions, Discusses Why and How Voluntary Benefits are No Longer Optional

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HSA Administrators, Clarity Benefit Solutions, Discusses Why and How Voluntary Benefits are No Longer Optional

PR Newswire

NEW YORK, July 26, 2018 /PRNewswire-iReach/ -- HSA administrators, Clarity Benefit Solutions, discusses why and how voluntary benefits are no longer optional.

Benefits such a short- and long-term disability, life insurance, nursing home or in-home care, critical illness, and gap insurance are traditionally available to employees on a voluntary basis. Over time, benefits such as these began to grow in popularity, and progressive employers should seriously consider making such benefits standard offerings. They can be referred to as ancillary, enhanced, or supplemental benefits.

Employers should seriously consider making voluntary benefits available to their employees. Voluntary benefits provide financial security for employees and their families. Traditional insurance covers services such as doctor visits and prescription drug costs. It is up to employees to pay for deductibles as well as those expenses not covered by primary insurance. Voluntary benefits offer added security to employees (or their dependents) who suffer from a serious illness or injury.

Voluntary benefits are also advantageous to employers. They can be a leveraging tool in securing top talent—especially when the unemployment numbers are extremely low. Adding voluntary benefits to benefits offerings can attract and retain top-notch employees. In addition, current employees will feel more valued, resulting in improved morale and higher productivity.

From a broker standpoint, voluntary benefits provide the opportunity for them to generate more revenue and cement their position as an invaluable resource to their clients. Brokers should do their due diligence with each client to determine the proper selection of voluntary benefits they should offer their employees to ensure the selection of voluntary benefits is met with success.

Here are some additional steps to realize success with the implementation of voluntary benefits. First, offer them at the same time that core benefits are offered. This way, employees don't have to set aside a separate time to enroll for voluntary benefits. It is also important for employers to educate employees thoroughly on what voluntary benefits are available to them. An online platform can also help to streamline this entire process.

About Clarity Benefit Solutions: Clarity Benefit Solutionsprovides technology that makes the health insurance plan selection process fast, easy, and straightforward. For over two decades, we have provided clients with industry-leading technology, compliance, and exceptional customer service. Our offering is designed to save time and lower the costs of managing benefits while also promoting employee self-service and automated ACA compliance.

Media Contact: Calvin Clark, Clarity Benefit Solutions, 732-428-8272, cclark@claritybenefitsolutions.com

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SOURCE Clarity Benefit Solutions

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