Many employers are facing a real dilemma when it comes to employee benefits. Health care costs continue to rise, and maintaining a comprehensive and competitive employee benefits program is becoming increasingly difficult. Offering supplemental benefits can be a way to control costs and still meet employee’s needs.

Accident – Though most people do not like to think about it, accidents can happen – and they can be devastating. They occur without warning, and most individuals are not financially or emotionally prepared for them. However, offering a Group Accident Insurance plan as part of your benefits package can help your employees in the event of an accident.

Cancer – Being diagnosed with cancer can have a devastating impact on the lives of the sick individual as well as on family and friends. On top of this, treating cancer is extremely expensive, and survival without the proper treatment is often not a viable option. To provide supplemental coverage for cancer treatment and costs, many employers offer voluntary cancer insurance to their employees. These policies go beyond traditional health plans, since many do not provide sufficient coverage for the costs surrounding the disease.

Critical Illness – A critical illness can have devastating effects on your employees, both to their health and their pocketbook. Offering critical illness benefits to your employees can help alleviate some of the financial burdens of suffering a major illness or accident.  Benefits of Critical Illness Insurance to the Employer and Employee includes-

• Complements high-deductible health plans (HDHPs) by eliminating the worry of having to pay for high deductible in the middle of suffering a major illness.

• Serves as an affordable way to fill a gap in coverage.

• Employees reduce their financial risks in the event that serious illness occurs.

• Employers can offer the benefit as a recruiting tool or as a way to compensate for changes in core medical plans.

• Employers can offer a wellness benefit option under a critical illness plan that reimburses an employee each year for having certain tests and routine exams done.

Hospital Indemnity – Hospital indemnity insurance is a type of plan that provides out of pocket expenses when you’re hospitalized for an injury or illness.  Benefits are predetermined, paid regardless of any other insurance and have several plan designs.  This can be a standalone policy or combined with critical illness plan.

Employee Assistance – An employee assistance program is an employer-sponsored program that offers services to help you deal with personal problems. EAPs can help reduce your health care and disability claims, increase your productivity and morale and lower absenteeism.