Plantation, FL 33324 (July 24, 2015)
An attractive benefits package can make the difference in finding, gaining and retaining good employees. In addition to mandatory benefits (Employer-sponsored health care plans under the ACA, Social Security, Unemployment insurance, Family and Medical leave, etc.), voluntary benefits can provide those extra perks not required by law, but that go a long way in providing what prospective hires and employees view as a more comprehensive benefits package.
Voluntary benefits are sponsored by the employer (selected and managed) and offered to the employee, who pays 100 percent of the costs, typically through payroll deductions. Voluntary benefits may include life insurance, disability insurance, dental insurance, vision coverage, medical discounts, and supplemental health. Employers are also starting to offer voluntary benefits for telemedicine, wellness content, health screenings, ID theft protection, and legal assistance, as well as lifestyle options like pet care, additional vacation time, and retail savings.
The rising costs of providing employee benefits, changes in our healthcare delivery system and mandatory requirements of the Affordable Care Act have contributed to the growth of voluntary benefits. In the recent :DentalPlans SmileIndex™ survey (2015), the two most common sources of health insurance are employers (56 percent), either directly or through a spouse, and through Medicare (24 percent). The same rings true for dental insurance, with employers and Medicare/Medicaid as the most common sources of dental insurance. The survey also reveals that affordability is the primary reason identified (58 percent) for opting out of dental coverage.
“Offering a dental savings plan as a voluntary benefit provides an affordable option for employees to access the oral care they need to stay healthy,” states Bill Chase, vice president of marketing for :DentalPlans. “We offer group savings plans for companies, which are easy to manage from a human resources perspective, while providing savings to employees on dental care services.”
Dental savings plans offer discounts that can save employees anywhere from 10 to 60 percent on most dental procedures. Participating dentists have agreed to accept a reduced fee from dental savings plan members for a variety of dental care, including orthodontia and cosmetic dentistry. Select plans add even more choices for employees with discounts on vision and hearing services, prescription drugs, telemedicine, and other health and wellness services.
According to MetLife’s 12th Annual Study of Employee Benefit Trends, employees are counting more and more on their workforce benefits as they still feel the impacts of the recession. 58 percent of employees are looking to their employer for more help in achieving financial security through employee benefits. 48 percent of employees in 2013 were very concerned about having enough money to cover out-of-pocket medical expenses, up from 40 percent in 2012. 60 percent of employees said they would be interested in vision care insurance or vision discount programs.
“It is clear that most employees rely on their workplace benefits to care for their health. Dental savings plans are an affordable alternative to offering insurance to employees, that provide value to both employee and employer,” adds Chase. “We encourage you to visit DentalPlans.com to learn more about the costs, availability of plans and dentists, and advantages of dental savings plans to help you evaluate your options.”
:DentalPlans, founded in 1999, is a leading dental and health savings marketplace in the U.S., helping more than a million people to affordably access quality healthcare services. Our mission is to empower consumers with the tools, information, resources and services that they need to live happier, healthier lives. Our independent research – the :DP SmileMeter™ and :DP SmileIndex™ – provides a unique look into the consumer healthcare market. We offer user-friendly access to dental and health plans, online comparison tools to help consumers save on their health care costs, and our :DP AtYourService™ support team that leaves no question unanswered. For more information, visit us at www.dentalplans.com and find us on Facebook, Twitter, Pinterest and YouTube.
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