Most employees can expect to see voluntary benefit options added to their benefit plans thanks to new regulatory and economic issues. Half of employers surveyed by Colonial Life & Accident Insurance say they expect to add voluntary, employee-paid insurance benefits to their plans within the next year.
But the same percentage of employers also say they'll likely increase health insurance premiums (51 percent) as well as deductibles and copays (49 percent).
“Not surprisingly, employee benefits have taken a hit as companies wrestle with the rising cost of providing health coverage to their workforce,” says Randy Horn, president and CEO of Colonial Life. “Offering voluntary products that complement core benefits can help companies better manage their costs. Voluntary plans can also give employees a convenient and affordable way to protect their families and lifestyles.”
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
