VOLUNTARY INSURANCE

As a business owner, you have in one way or another experienced the changes that have come along with Health Care Reform. The need for filling in the gaps of Health Insurance has increased substantially in recent years. Companies are now seeing higher deductible health plans in an effort to contain premium costs.
DP Benefits group is very effective in creating solutions to minimize the bottom line while at the same time leaving the same level of coverage in place for the employees. This is done with a combination of the right health insurance and the right voluntary insurance.

What are Voluntary Benefits?

These type of benefits are done in an Employer Setting. Unlike Fully Insured plans where the employer is contributing all or some of the premiums the employee is typically paying the premiums. The employee pays for the benefits via payroll deduction. In most cases the coverage is portable meaning should the employee leave they can take those benefits with them. They come with Tax Advantages for both the employer and the employee. These benefits are most often inexpensive averaging 1-2 hours of employee wages per week.

What are some of the advantages to Voluntary Benefits?

The correctly designed package of benefits can help employers reduce their payroll taxes, increase your employees’ take-home pay, help check compliance with Section 125 provisions and regulations, and receive discounts on flex programs, including health savings accounts. Premium-only plans (POP) can offer significant savings for both the employer and the employees