Overview of Voluntary Benefits

The term "voluntary benefits" refers to a broad spectrum of various types of benefits that employers are not required by law to provide to their employees. These can include everything from numerous types of insurance, including, life, vision, dental and long-term care, to legal plans, mortgages, and tele-commuting options.

These benefits are often offered to employees at little or no cost to the employer. In the case of insurance products, voluntary benefits can be made available individually or as part of broker or provider packages. A company's primary expenses are limited to administrative costs, as employees typically pay the premiums. Voluntary benefits are one solution for employers who are trying to meet the dual challenges of containing costs, while boosting employee recruitment and satisfaction levels...