Voluntary Benefits Give Employees the Edge

A national survey, conducted for WellPoint Inc., shows that voluntary benefits provide an edge when employees weigh the value of their jobs. In fact, 83% of employees think more highly of employers that offer voluntary insurance benefits than those that don’t. Nearly 90% of prospective employees said that, when it comes to accepting a new job, it is important to consider whether companies offer a full range of health benefits, including voluntary. Fifty-six percent called it very important.

While 82% of employees whose company offered voluntary benefits say they are satisfied with their offerings, that satisfaction falls by 30% for those whose companies don’t offer such benefits.
Sixty-seven percent of employees say their company offers voluntary insurance. The employees who are more likely to say their company offers voluntary insurance are men (71%), those in the Northeast (74%), those at large companies (81%), and those with an average household income of $50,000 or more (74%).
Only fifty-six percent of workers say they are knowledgeable about the voluntary insurance products offered at their companies. Sixty-seven percent say that having their employer provide voluntary benefits would increase their productivity. The top reasons employees enroll in voluntary benefits include cost savings (54%), greater protection for their families (50%) and ease of mind (44%). For more information, visit http://www.wellpoint.com.