Voluntary Supplemental Benefits
Payroll Deduction Life & Health Insurance Program. A great, affordable way to offer your employees a better place to work.
More and more businesses like yours are taking advantage of voluntary supplemental benefit programs to offer their employees valuable, cost effective benefits. Time & Pay’s supplemental benefit program is a great way for you to:
- Offer your employees benefits that they will value
- Make your place of employment a more attractive place to work
- Eliminate all the administrative burdens of offering a benefit program
- Reduce your payroll tax burden.
- Achieve all these advantages while not increasing your cost of operating your business.
Working with Allstate Benefits, one of the largest supplemental benefit providers in the country, Time & Pay is proud to offer our customers a very affordable voluntary program of high quality supplemental benefits. As an extra feature, in partnering with Allstate Benefits, we are able to make this program a Guaranteed Issue supplemental benefit plan available to our clients under a Group status, meaning that our small to medium size customers will be able to receive the same underwriting considerations usually granted only to larger companies. This group Guaranteed Issue status also means that employees will not have to answer any enrollment questions related to health (except those related to AIDS) when applying for the benefits.
Supplemental voluntary benefits allow employers to offer their employees health related benefits at very affordable rates. Employers can choose to pay for the benefits or they can treat them as a payroll deduction and let employees choose to purchase the benefits if they so desire. While not a full health care insurance plan, these plans will provide employees with good financial assistance should a health related problem arise, if covered in the plan. Depending on the benefit, the premium may also be pre-tax, thus lowering the payroll tax liability for the employee and the employer.
Some of the supplemental benefits offered under this plan are:
- Group Voluntary Accident
- Group Short Term Disability
- Group Voluntary Life Insurance
Another benefit of working with this Time & Pay supplemental benefit program is that your Time & Pay service representative will take care of the administration of the benefit program including premium payments.
Now is the time to offer your employees a valuable stand alone benefit package or a supplement to the current benefit package you already offer. Either way, you will make your place of employment a more attractive place to work and reduce employee turnover. Numerous surveys note that while wages are important in creating employee loyalty, employees derive more job satisfaction and loyalty if they have good additional workplace benefits.
Voluntary supplemental benefits are just another valuable addition to the payroll services we offer. They are a great, affordable way to offer your employees health related benefits, reduce payroll tax liability, reduce employee turnover, and make you business a better place to work. To learn more, contact us using our Live Chat or Contact Us.