Free Money and Perfect Benefits, Hahahaha

Voluntary Benefits Fill Holes in Your Benefits Program

We know now that voluntary employee benefits are becoming massively and increasingly popular and two reasons are that employees need them more and more and business budgets are getting squeezed by the economy.

Now we see that another trend driving businesses such as yours to increase the voluntary benefits offering is the immense usefulness of voluntary benefits in completing the benefits package. The frustrating problem here is that your benefits package has holes, gaps, and voids.

As long as the gaps exist, we can reasonably conclude that the benefits package was started, yet left unfinished and like a road left unfinished your people are driving along comfortably on the pavement you provided until they run into holes and are finding themselves falling into their shallow savings and deep confusion.

Would you agree this economy is at least somewhat interesting? Debt up. Bankruptcies up. Income down. Savings down. Check to check living up. Foreclosures up. Security down. Fear up.

Budget cuts and job losses demand and require affordable financial coverage for employees and this need is exactly what makes voluntary benefits so comforting, relaxing, and easy to get.

Black Holes and Financial Life Drain

As we are about to read, voluntary benefits are often designed to complete and fill the painful holes in your benefits package and here Dori Molloy, Regional VP of Transamerica Worksite Marketing says now, “…the best opportunity for voluntary benefits may be found in the gaps contained in current benefit offerings [which]…can complete a traditional benefits program…” and, “A lot of the voluntary coverages, including accident and critical illness insurance…are affordable and for employees who do not have substantial savings the benefits provide a safety net for them.

You Are Not Safe, Are You?

The gaps in health insurance are financial pain – pain that most people are almost completely unprepared for especially in this uncertain economy – and with healthcare costs only going up this pain can be devastating, which makes it easy to understand why at least 6 in 10 of all bankruptcies filed in America are due to medical expenses. Plus, 8 in 10 of all people being forced into medical bankruptcy have health insurance, according to the now infamous Harvard Study.

We would not trust half a coat, half a pair of shoes, half a door, half a lock, half a security system, half a seat belt, or half a soldier to protect and serve us effectively, which causes a very natural realization of the fact that voluntary benefits, especially when it comes to healthcare are not only essential, they’re just common sense.

So, with your voluntary employee benefits, you fill in the gaps, remove the dangerous holes, cover the leaks and do so in a way that satisfies your employees because they choose what they want and you do all of this for your business, for your employees – for free.

FREE Money! – Pretax Savings

This here is amazing.

We remember, obviously, that your employees are covering their voluntary benefits themselves, right? Well in addition to your voluntary benefits offering being free for you, your voluntary benefits offering is a pretax deduction.

What does this mean?

What this means is the sum total of your payroll is reduced by the amount of coverage your employees get, therefore the amount you must pay in matching FICA taxes drops because of your employees’ coverage. Which makes this the bottom line – the more coverage, the more tax savings and the more tax savings, the more monthly cashflow.

More employee coverage is more cashflow.

More and more employee coverage is more and more cashflow.

And this is for free, hence, free money!

Voluntary Benefits – What I Am Getting, In A Nutshell

Once again, simply know, voluntary employee benefits are good for business growth, good for budgeting, good for employees – all for free, and actually put money in your pocket!