Voluntary Benefits

Voluntary Benefits

Overview

The availability of a variety of Voluntary Benefits allows employees to enhance and deepen the security and peace of mind they provide to their families, boosting employee satisfaction at no additional cost to the employer.

In addition to the core medical, life and disability benefits most needed by employees, Vertus helps employers build and deliver valuable benefits plans that participants can access to round out their coverages while providing employers with additional differentiators.

Some of the most popular benefits employees want are available at little or no cost to employers. Vertus team members are experts in the design and implementation of voluntary programs providing some of the most popular voluntary options. From employee savings plans to personal auto and homeowner coverages, student loan assistance, legal services and long-term care, an expanded range of voluntary insurance and lifestyle products can increase employee loyalty and satisfaction, at no cost to your organization and with little or no administrative engagement.

  • Plan design analysis
    • Benefit review and recommendations
    • Certificate review
    • Policy review
    • Structure
  • Financial review
    • Pricing review
    • Underwriting
  • Proposal development and marketing
  • Participation analysis
  • Benchmarking
  • Ongoing account management and reporting

How we Help

The availability of a variety of Voluntary Benefits allows employees to enhance and deepen the security and peace of mind they provide to their families, boosting employee satisfaction at no additional cost to the employer.

In addition to the core medical, life and disability benefits most needed by employees, Vertus helps employers build and deliver valuable benefits plans that participants can access to round out their coverages while providing employers with additional differentiators.

What we Provide

Some of the most popular benefits employees want are available at little or no cost to employers. Vertus team members are experts in the design and implementation of voluntary programs providing some of the most popular voluntary options. From employee savings plans to personal auto and homeowner coverages, student loan assistance, legal services and long-term care, an expanded range of voluntary insurance and lifestyle products can increase employee loyalty and satisfaction, at no cost to your organization and with little or no administrative engagement.

  • Plan design analysis
    • Benefit review and recommendations
    • Certificate review
    • Policy review
    • Structure
  • Financial review
    • Pricing review
    • Underwriting
  • Proposal development and marketing
  • Participation analysis
  • Benchmarking
  • Ongoing account management and reporting

Problem

A large call center services company with over 5,000 employees was experiencing the employee benefits version of a “wrong number.” The company was being hit by a growing quantity of poorly managed employee medical claim occurrences due to a patchwork of redundant and complex health insurance plans. One consequence was an unusually high rate of emergency room and urgent care events driving up costs. The key driver of the inefficient, increasingly costly program was lack of a coherent benefits strategy and a genuine misalignment with overall corporate goals. It was clearly time to try to make a better connection.

Solution

Once on the line, one of the Vertus team’s first discoveries was an unnecessary stop loss limits provision that was inconsistent with the actual risk profile and was driving unnecessary costs and commissions. Vertus professionals created a strategy that introduced new ideas such as telemedicine and voluntary employee incentives to answer utilization problems and costs. The new program eliminated confusing medical plan options and retained the same network of providers. Finally, a real-time claims and data tracking protocol gave the employer a much better handle on cost drivers and potential solutions. The new strategy ultimately resulted in a 17-percent annual savings.

A large call center services company with over 5,000 employees was experiencing the employee benefits version of a “wrong number.” The company was being hit by a growing quantity of poorly managed employee medical claim occurrences due to a patchwork of redundant and complex health insurance plans. One consequence was an unusually high rate of emergency room and urgent care events driving up costs. The key driver of the inefficient, increasingly costly program was lack of a coherent benefits strategy and a genuine misalignment with overall corporate goals. It was clearly time to try to make a better connection.

Once on the line, one of the Vertus team’s first discoveries was an unnecessary stop loss limits provision that was inconsistent with the actual risk profile and was driving unnecessary costs and commissions. Vertus professionals created a strategy that introduced new ideas such as telemedicine and voluntary employee incentives to answer utilization problems and costs. The new program eliminated confusing medical plan options and retained the same network of providers. Finally, a real-time claims and data tracking protocol gave the employer a much better handle on cost drivers and potential solutions. The new strategy ultimately resulted in a 17-percent annual savings.

17% reduction in plan
expense

Reduced plan
complexity

Increased voluntary
plan participation

Increased employee
satisfaction