Many times employers mistakenly assume that there is little or no demand for employee paid benefits for one simple reason:
Nobody ever asked
There is a common misperception that employees only want benefits that employers pay for. Nothing could be further from the truth. Often times the only thing holding back employers is a perceived lack of interest on the part of employees.
Asking is Important and Easy
Asking your employer to offer employee paid benefits options is important, and easy. There may be insurance programs important to you and your family that simply can’t be purchased as an individual. Your only option to get this valuable coverage is if your employer offers you the opportunity. And since employees pay the premium, there is no direct cost associated with giving you this option!
Why It’s Important
Many times the only option for employees to fill huge holes in benefit plans is through an employee paid supplemental insurance program. It may be because certain policy features are only available through group plans, the underwriting criteria for individuals is too strict for you to qualify, or costs are prohibitive.
Critical Features Not Accessible to Individuals
Many important supplemental insurance policy features are not accessible to employees to purchase outside of the workplace. Many working women find this particularly true. Several employee paid policies provide coverage for normal maternity conditions, and in most states this type of coverage is impossible to find.
Underwriting Criteria More Lenient
Often individual policies are offered to people working in very narrowly defined job roles or industries only. Or an employee may have existing health conditions that prevent him or her from getting coverage. Many employee paid policies provide looser underwriting criteria, and in some cases allow for guaranteed issue policies. This means that important coverage is more readily available.
Lower Premium Costs to Employees
Insurers understand that individuals seeking coverage have an ulterior motive. Usually only people planning to use the benefit will seek out a policy. Adverse selection drives claims costs higher, and these higher costs are reflected in premiums paid by individuals. Group employee paid policies often have lower premium costs, making coverage more affordable. Employees can make premium payments using pre-tax deductions lowering costs further.
Why Asking is Easy
Asking for employee paid benefits is easy. Getting your employer on board is a little more complicated at times. Not every employer agrees to move ahead. But if you don’t ask, your odds of getting the coverage you need is zero. Improve your odds of getting agreement by remembering that your request is simple, you will be helping your employer, co-workers will thank you, and you are not alone: you can engage us as your benefits advocate.
Your Request is Simple
There is no direct cost to your employer. Employee paid benefits come from employee paychecks! You simply have to ask your employer to allow you the option to pay for these policies yourself. Your employer simply has to agree to
- Offer the benefit options to all employees
- Give them a chance to learn about the programs and enroll if the choose
- Support a payroll deduction
- Forward premium collected from your paycheck to the insurance carrier
- Pat themselves on the back for being a benevolent employer
Help Your Employer
Employers need to offer rich benefit programs in order to attract and retain workers. Employer paid benefits raise costs, while a voluntary (employee paid) only adds a small administrative cost. Supplemental insurance fills holes in existing medical plans, allowing your employer to migrate towards “consumer directed health plans” that lower medical insurance rates, while continuing to provide rich benefit options to employees.
Co-Workers will Thank You
Many of your co-workers may be dealing with similar financial issues as you. But they may not be reading this page. You are. Many co-workers will appreciate the opportunity to access important benefit options they can’t find as individual, qualify for medically, or afford to pay for outside of work.
Other co-workers may have already asked for employee paid benefits to be offered at work. Now your voice will be heard in conjunction. Perhaps your employer just has to hear one more person make the request before acting.
You are Not Alone – Engage us as Your Benefit Advocate
You don’t have to convince your employer all by yourself. Insurance and employee benefits may not be your specialty. But we do this every single day, every week, every month, every year.
We face two big challenges in getting employers on board to offer employee paid benefits: getting the decision maker to take our call, and convincing them employees are interested. By asking your employer to speak with us you single-handily address three points:
- At least one employee is very interested – you!
- Your benefits decision maker takes our call.
- An expert addresses the finer points of giving you the opportunity to buy coverage at work.