Group Voluntary Benefits

Added benefits for your valued employees.

Group voluntary benefits provided by Cowell James Forge Insurance Group.

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Every employer should care for their workers by getting a health insurance plan and coverage packages. But sometimes, some employees may feel that the options available are too expensive to buy. And that means leaving their health care issues and risk without the needed cover. 

Even if you find it difficult to provide the health care benefits your workers need, you can give them the opportunity. You employees can enjoy valuable group coverage plans available at significantly lower costs than they would have paid as individuals. At Cowell James Forge Insurance Group, we can help you give your employees the benefits they need with group voluntary benefits. We offer Voluntary benefits that meet the needs of your business.

What Is A Group Voluntary Benefits Plan?

A group voluntary program means putting a deal in place that allows an insurance provider to offer your workers or employees access to specific medical benefits as a group through their employment. Group voluntary benefits plans usually come at much lower costs than the benefits would pay if they bought the package individually. That is because the insurance provider gets access to multiple potential customers, allowing them to agree to much lower package rates.

Why Do You Need To Get Group Voluntary Employee Benefits For Your Workers? 

Group Voluntary benefits come with several advantages for you, the employer, and your workers. Here are some of them.

  • Lower health care rates for your workers at no cost to your business. Most business owners or employers consider insurance packages extra costs to their businesses. You won’t have to worry about paying anything as the business owner. Group voluntary packages come at no cost to your business. Instead, you can sign up your workers and give them the opportunity to enjoy health care coverage packages.
  • Your workers can access a health insurance benefits package at lower rates. Your employees can enjoy medical benefits at lower premiums. In most cases, the payment is collected through payroll deduction. But unlike individual health insurance packages, group voluntary benefits come at significantly reduced rates. For example, it makes dental care or dental insurance and other critical illness insurance more affordable. 
  • Enhance already existing medical coverage. Even if your employers already benefit from insurance coverage packages, a group voluntary program will help enhance what they already have. Group voluntary benefits can fill in specific gaps that a traditional health care plan does not cover. Additionally, with group voluntary benefits, your employees have the chance to customize their protection. 
  • Employee’s financial stability. A well-designed and packaged voluntary benefits program can offer your employees another layer of financial stability. Your workers will also feel more comfortable electing cost-effective plans with high deductibles in addition to their group voluntary benefits.
  • Appeal to a multigenerational workforce. The added benefits of group voluntary benefits will help make your business more appealing to potential workers of all ages. People want to work for employers who have their health concerns at heart. That means you will be able to attract more and better-qualified employees than other companies. Beyond that, you will also be able to support better employee retention.
  • Increase productivity. A healthy workforce is a productive workforce. The less time your workers spend on the treatment table, the more time they have to help drive your business goals. 
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Employee Benefits

Group Health Insurance

Risk Factor

One of the main factors in attracting and retaining good employees is the benefit program offered by employers. This typically starts with your group health insurance plan.

Solution

Regardless of the company’s financials, there are ways to make health insurance available to your employees and their dependents. Offering health insurance doesn’t have to break the bank. There are many solutions available to small, mid-size, and large employers.

Group Life Insurance

Risk Factor

When employees are worried about their financial situation, they may not be as productive. Many individuals today do not have life insurance or adequate savings to cover final expenses, which places additional stress on employees and/or their families when the need arises.

Solution

A group life insurance plan can put your employees’ minds at ease, knowing their family will have resources available when they need them. Policies can also include a dependent benefit to help the employee pay for expenses if their dependent passes. Another solution is to offer a voluntary life benefit whereby the employee pays a lower premium through payroll deduction than they would if they found coverage on their own. Group life insurance is also tax deductible.

Disability

Risk Factor

Many employers are faced with offering lower wages than their competitors and find it difficult to find and retain qualified workers.

Solution

Offering a short-term and/or a long-term disability program can provide prospective and current workers with another form of financial stability. An employee may be offered a higher wage elsewhere, but are they offered protection if that paycheck stops due to pregnancy, illness, or other disability? How will they pay the mortgage or other bills? Employers offering a disability plan can provide peace of mind to their employees and gain an advantage over those that don’t.

Group Dental Coverage

Risk Factor

Failure to have regular dental checkups can lead to more serious problems than a toothache.

Solution

Offering dental coverage to your employees can help encourage them to see a dentist on a regular basis. Gum disease has been linked to heart disease as well as diabetes. Catching these issues early not only helps your employees’ health, it may help reduce your long-term health insurance costs before a big claim hits!

Vision Care Coverage

Risk Factor

Similar to dental coverage, if your employees are not getting regular eye exams, they may have underlying medical conditions such as heart disease or diabetes that can surface later at a greater expense to your medical plan.

Solution

Offering vision care coverage is a very affordable component to offering health benefits. It’s an inexpensive portion of the benefit package with a high value of return and can help offset the impact of increased medical costs, becoming a cost-effective, early intervention tool.

Voluntary Coverage

Risk Factor

Not being able to meet an employee’s individual needs can pose a threat to worker retention and attracting new talent, both of which can be costly to your bottom line.

Solution

Offering voluntary coverage lets your employees choose benefits that are important to them. It’s a cost-effective way to provide a variety of benefits at little or no impact to your monthly premiums. Examples of voluntary coverage include:

  • Critical illness, hospital indemnity, and cancer coverage.
  • Life, dependent life, short-term, and long-term disability coverage.
  • Dental care.
  • Vision care.

Compliance Audits

Risk Factor

Compliance audits are increasing and Department of Labor fines can be costly. Do you have all of the documents and paperwork at your fingertips should you receive an audit letter?

Solution

A good benefits broker will educate you on the compliance pieces so that you are prepared for that dreaded day. A wrap document covers most of what is required and the remaining forms should be readily accessible with proof of distribution to employees and/or eligible participants.

Why Choose Cowell James Forge Insurance Group As Your Group Voluntary Benefits Providers?

At the Cowell James Forge Insurance Group, we will help you find the perfect group voluntary benefits offered to your workers. Here are a few reasons why you should choose us.

  • We proudly serve clients across the greater Kansas City and locations close by. We offer a comprehensive range of insurance solutions to protect you and your employees from the unexpected.
  • We give you the chance to make lower healthcare costs available to your employees without any added costs to your business. 
  • We have the experience and expertise to offer you the support to provide employee benefits and benefit programs for your workers. 
We offer you and your business the overall benefits of a voluntary group insurance policy. If you are looking for the best group voluntary benefits plan for your workers, contact the Cowell James Forge Insurance Group.
Group Voluntary Benefits - Co Workers Hanging Out Drinking Coffee Together

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