The Draw of Workplace Benefits
Workplace benefits are helpful for employees. The most common benefits are health insurance and a retirement fund. But some places of business offer more than that for their workers. These benefits are something that companies offer to attract good workers. These extras are often called “voluntary” benefits because the company might not contribute anything to help offset the cost. But if they are offered through work, then employees can get a low group rate.
These benefits are available to full-time employees. In most cases, part-time and temp employees are not eligible. These benefits are particularly important for single parents, and people who are prone to a job-related illness and injury. Since they generally have a more difficult time providing family care, these benefits are a great help.
Workplace benefits are very specific about what is covered. A policy might cover accidents, while another is for critical illness or life insurance. There are numerous benefits available, but what is offered differs based on the employer. You will most commonly find short- and long-term disability insurance, accident insurance, critical illness insurance, long-term care insurance and universal life insurance being offered.
Attractive to Workers
The main benefit of voluntary workplace benefits is the supplemental coverage provided. Having a bit of extra help with life makes it easier to handle certain situations.