Provide brief education for business owners and HR professionals on the current market conditions that favor adding Voluntary Benefits to their benefits portfolio.

1. INTRODUCTION TO
VOLUNTARY BENEFITS
Created by
Ron Atkinson, PMP

2. Objective
2
Provide brief education for business
owners and HR professionals on the
current market conditions that favor
adding Voluntary Benefits to their
benefits portfolio.
INTRODUCTION TO VOLUNTARY BENEFTIS

3. Current Market Conditions
3
 HEALTH CARE COSTS ARE GOING UP (↑)
 Since 1999, family premiums for employer-sponsored
insurance have increased 120 percent while wages have
gone up 44 percent and inflation has gone up 29 percent.
 THE VALUE OF EMPLOYER HEALTH PLANS IS GOING
DOWN (↓)
 As cost of plans increase, employers are forced to:
 Reduce or adjust core benefits
 Share premium increases in the form of higher deductibles,
copayments, or other out-of-pocket expenses with employees.
INTRODUCTION TO VOLUNTARY BENEFTIS

4. Current Market Conditions
4
 A COMPREHENSIVE BENEFITS PACKAGE IS
CRUCIAL FOR :
 Employee retention (satisfaction)
 Talent recruitment in a highly competitive market.
 THE RECENT ECONOMIC DOWNTURN HAS FORCED
COMPANIES TO REVIEW HOW FUNDS FOR
EMPLOYEE BENEFITS ARE SPENT.
 Health care benefits are the basis of many corporate
challenges and can often make the difference between
profitability and red ink.
INTRODUCTION TO VOLUNTARY BENEFTIS

5. Challenge
5
How can business owners and HR
professionals construct a substantial,
affordable, and valued benefits
package in spite of limited
resources, rising costs, and a highly
competitive job market?
INTRODUCTION TO VOLUNTARY BENEFTIS

6. Voluntary Benefits
6
 What are Voluntary Benefits?
 Benefitsoffered by employers and paid for by the
employees at a lower rate than if individually
purchased (group rates).
 Benefits are implemented at no cost to the employer
 Employees pay 100 percent of the premiums through
pre-tax payroll deductions.
A few examples of voluntary benefits are dental,
vision, life, disability, supplemental health , accident
and cancer insurance.
INTRODUCTION TO VOLUNTARY BENEFTIS

7. Voluntary Benefits
7
 Voluntary benefits strengthens existing
benefits programs.
 Coverage options complement existing employer-
paid benefits and / or “fill in the gaps” when the
value of core benefits are altered or reduced.
 Voluntary benefits empower employees
 Employees can select coverage relevant to their
circumstances and build a benefits plan tailored to
their specific needs.
INTRODUCTION TO VOLUNTARY BENEFTIS

8. Voluntary Benefits - Summary
8
For Employers For Employees
1. An enhanced benefits 1. Access to a broad array of
package at no additional cost. benefits.
2. A competitive advantage with 2. Freedom to customize a benefit
regards to attracting and package that fits their needs.
retaining valued employees. 3. Affordable premiums
3. An option of expense control 4. Portable coverage
in the face of rising benefit
costs 5. Convenient payroll-deducted
premiums
4. Reduced tax liability (lowered
FICA amounts)
INTRODUCTION TO VOLUNTARY BENEFTIS

9. Conclusions
9
 In the recent years, the model for delivery of employee
benefits is shifting towards placing greater
responsibility on workers.
 Voluntary Benefits are becoming an integral part of the
benefits equation for many businesses and their
employees.
 Voluntary Benefits have emerged as a viable solution
to business owners who are struggling with rising
health care costs and continuing a competitive
employee benefits package.
INTRODUCTION TO VOLUNTARY BENEFTIS

10. Closing / Biography
10
THANK YOU FOR YOUR TIME
QUESTIONS / COMMENTS
Ron Atkinson PMP
Email : ratkinson.vb@gmail.com
Phone: 202.497.8927
Linked-in : Ron Atkinson
INTRODUCTION TO VOLUNTARY BENEFTIS