Companies Looking To Save Money On Employee Benefits Are Turning To Voluntary Benefit Plans

No matter what size business you have your employee benefits are a key element in keeping your employees happy and reducing turnover ratois. We all know it is more costly to train a new employee and not have them remain on the job.

In an effort to save on premiums companies have increased their deductibles on their health plans and are now offering Voluntary Benefits to the employees. This allows the company to reduce overhead and the employee can opt in to the voluntary benefit plan at no additional cost to the employer. The Voluntary plan will cover the employee for those office visits and other routine medical bills.

Two of the major players in the Voluntary Benefits arena are A.F.L.A.C. and Colonial which have both appointed M.J.F. to represent their reswpective portfolios. They offer coverages for disability, dental, cancer and life insurance to name a few. The employer opts into the plan and agrees to deduct the premiums from a participating employees payroll. If set up correctly it can be tax advantaged for the employer as well.

A.F.L.A.C. requires 5 people on payroll and 3 participants to enroll a group. Colonial will entertain a 3 person group with one enrollee in order to activate.
A.F.L.A.C. spends a lot of their profit on advertising and it is reflected in the premiums while Colonial is less pricey but does not advertise to the extent of A.F.L.A.C. so the consumer saves on overall premium.

We have been able to provide the business owner with some premium relie and provide additional benefits that the employees would not normally have access to via payroll deduction. Both carriers offer top notch products which allow the employer to retain his employees because of the enhanced benefit package.

There is no limit on the maximum amount of employees that we can enroll. We can underwrite the small contractor who offers his employees no other benefits or the larger employers looking to save premium and enhance their current portfolio.

Colonial also was recently ranked number 1 by Benefits Selling Magazine for Best Enrollment Practices, 2nd for Best Consumer Driven Prodcts, Best in Broker / Carrier Relationships and 1st in Embracing New Technology.

#For more information on A.F.L.A.C. & Colonial Voluntary Benefit Plans you can contact our office to schedule an appointment.

We primarily work with NY & NJ companies but we are licensed in CT,PA,FL & SC if you are located in these states we can also work with you company too.