The document discusses how the struggling economy has led many employers to cut back on employee health benefits or require higher out-of-pocket costs. A survey found that a majority of employers have increased premiums, deductibles, and other health insurance costs for employees. This has left many employees concerned about unexpected medical expenses. The document proposes that voluntary benefits can address employee concerns without overburdening employers. Voluntary benefits include disability, life, accident, critical illness, and hospital indemnity insurance. A benefits professional can help design a strategic benefits plan to help both employers and employees navigate the changing insurance landscape.

1. 104 | simplythebestmagazine.com
{GOOD ADVICE}
The struggling economy is not
only hitting employers and employees
in the pocket book, but in the medi-
cine cabinet as well. This is because
many employers have cut back on
the employee benefits (i.e. health and
dental insurance) they provide, or
they now require employees to pay
more out of pocket for their benefits.
A recent benefits survey docu-
ments how current economic con-
ditions have affected the employee
benefits landscape. A large major-
ity of human resources executives
contacted for the survey verified that
they had made recent changes to
their employees’ medical insurance
coverage. This includes increased
premiums, coinsurance, copayments
and deductibles. These changes
mirror concerns voiced by employ-
ees and many are concerned about
unexpected medical expenses such
as emergency room visits, major
surgery, increased premiums, higher
deductibles, copayments and ex-
penses no longer covered by their
medical plans.
While there is no quick fix for the
economic challenges, there is a win-
win solution when it comes to em-
ployee benefits. Voluntary benefits
will address the employee concerns,
while not significantly burdening
the company’s bottom line. In other
words, employers win by providing a
competitive employee benefits pro-
gram, and employees win because
they can obtain the insurance protec-
tion they need and desire.
What are some of the voluntary
benefits available?
• DISABILITY INSURANCE, to
protect an employee’s work-
place earnings when disabled
• LIFE INSURANCE, to supple-
ment any basic coverage
provided by the employer
• ACCIDENT INSURANCE,
bridge costs associated with
any major accident which may
not be covered under the
medical plan
• CANCER OR CRITICAL
ILLNESS INSURANCE, to
cover both any medical and
non-medical expenses costs
not covered by the employee’s
primary medical
• HOSPITAL INDEMNITY
INSURANCE, to provide addi-
tional income to pay for medical
and non-medical expenses
incurred as a result of a
hospital stay.
A qualified employee benefits pro-
fessional can help you design a stra-
tegic and innovative plan to conquer
the ever changing insurance land-
scape facing both the employer and
employee.
At National Group Benefits, we
are The Nation’s Leader in Innovative
Benefits Solutions. We have helped
numerous private and public compa-
nies with designing and implement-
ing creative benefit strategies. These
solutions have saved our clients sig-
nificant dollars. {stb}
—Michael J. Rosenberg is a Ben-
efits Consultant and Principal with
National Group Benefits, LLC in
Boca Raton, Florida. Mr. Rosenberg
may be reached at 561-620-8800 or
mrosenberg@ngbusa.com.
Voluntary Benefits
Respond to
TOUGH
ECONOMIC
CHALLENGES
MICHAEL J. ROSENBERG
By Michael J. Rosenberg