Raffa Services
Raffa Services
Raffa Services

Professional Services employee benefit plans

As health care costs continue to rise, so has the increased demand for voluntary benefits.

Since many employers find it increasingly difficult to provide employees with a complete benefit package, and employees need new ways to supplement their core benefits, voluntary benefits have become an ideal solution. Voluntary benefits allow employer to offer benefits that are attractive to employees, but without added cost to the company. Employees benefit because they have a variety of insurance options available conveniently in one place, and often with lower premiums than individual policies they would have bought themselves.
What are voluntary benefits?
Voluntary benefits are coverages and products made available to employees for elective purchase. These innovative programs have four key characteristics. They are:
  • 100 percent employee-paid,
  • conveyed through an employer,
  • solicited and enrolled by a carrier or enrollment firm and
  • paid for automatically through payroll deductions.

Because of their cost efficiency and portability, as well as their contribution to an employee’s work–life balance, voluntary benefits are increasingly becoming a central component of many companies’ overall benefits strategies.
What are some common voluntary benefits?
  • Permanent life insurance
  • Disability income insurance
  • Accidental death and dismemberment (AD&D)
  • Supplemental health insurance
  • Long-term care insurance
  • Retiree medical insurance
  • Dental/vision insurance
  • Auto/homeowners’ insurance
  • Prepaid legal services
  • Pet health insurance
  • Identity theft insurance
  • Computer purchase programs
  • Adoption assistance
Why should employers consider expanding to include voluntary benefits?
  • Trends show employees have strong, emotional appeal toward these benefits and have come to expect them
  • Usually there are no fees or costs to employers
  • Complement goals of most corporate work-life programs
  • Offer easy implementation (most do not have legal and regulatory issues associated with insurance benefits)
  • Require little post-implementation administration or support​

As you prepare to review your benefits strategy, please take the opportunity to consult with the leader. Email us or call 240.403.2540.
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