ING U.S.’s Heather Lavallee, president of employee benefits distribution, is one of the 20 Women in Insurance You Need to Know. She highlights t...
Employers are increasingly looking at voluntary benefits, particularly accident, hospital indemnity and critical illness coverage, to help manage health care costs and round out the benefits package they offer to employees. Employers are coping with rising health care costs and, in many cases, shifting to high-deductible health care plans. In addition, employees are facing increased deductibles and other out-of-pocket medical expenses. These costs are only likely to rise as Patient Protection and Affordable Care Act (PPACA) requirements are implemented.
Workplace insurance coverages — life, disability, accident, critical illness and hospital indemnity — can help protect employees’ retirement savings. A death, critical illness, extended hospital stay, accident or disability can put a family on the financial brink and greatly impact retirement savings.
Voluntary benefits provide employers and employees the ability to offer insurance coverages such as accident, critical illness or hospital indemnity that can be paid by the employer, employee or both. Voluntary benefits are limited benefit policies that provide fixed payments as a result of an accident, hospitalization, illness or other covered condition.
09/27/2013 | LifeHealthPro
09/17/2013 | LifeHealthPro
As benefits enrollment season gets underway, ING U.S.’s Lydia Jilek explores the changes afoot in the voluntary benefits landscape and how brokers need to “quarterback” the benefi...
08/14/2013 | BenefitsPro
Individual life policies were some of the first voluntary products sold in the U.S. workplace. Today, 81 percent of individuals with life insurance have workplace coverage, while half of individual...