Voluntary Benefits – Benefits Employers, Benefits Employees

Several years ago, Balanced Care received a call from one of the businesses we work with about their health insurance premium.     Like many business owners, they were considering a higher deductible because their premium increased 70% in one year.      It was either this or not offer Health Insurance at all to their employees.

Like many employers, they feared they would lose some of their employees and wanted to find a way to offer benefits, keep staff content, and do so without adding much cost to an already very tight budget.      Balanced Care immediately suggested the higher deductible, however, suggested voluntary benefits as a means of bridging the gap and a way for employees to pick and choose exactly what they needed.

After meeting with the employer and talking about different products that were available, the employer wanted to give the employees the opportunity to choose Accident, Disability, Life, Dental, and Vision Plans and let them know when I would be there to answer any questions they had.       Balanced Care suggested that employees have the opportunity to meet with me one to one over their lunch breaks so that I am able to educate each of them on the products, get to know them, and make suggestions that will best fit their needs, and if interested, they are able to enroll.

While at the enrollment, I was approached by one of the employees, a 50 year old woman.      Upon sitting with me, she immediately shared with me that she really wanted life insurance for herself.        She was diabetic and had been turned down for life insurance or had found a plan that was so expensive, it didn’t make financial sense to purchase.     Because the size of the business was large enough, she was able to qualify for this plan with no medical underwriting making her eligible for the plan.     It was very evident to me that she really wanted this product and after a few more questions, she shared with me a story that will forever change the way I look at life insurance.       Several months earlier, she had lost her 30 year old daughter suddenly.     Her exact words were, “I hope you never have to know such a loss because it is the hardest thing I have ever had to endure.      As hard as it was to lose her, the thing that I have found even harder is writing a check to the funeral home every month.      I will have to do this for the next several years and it brings me to the moment of losing her every month.”    She went on to share with me that she had two children still with her and she never wanted them to go through this should something happen to her.     She went on to share with me that she will forever be grateful to this employer because she wouldn’t have been able to get it any other way.

In this situation, both the employer and employee won.       The employer was able to keep his valued employee and did so without adding cost to his budget, he was able to still offer a health insurance plan, not lay anyone off to still offer benefits, and most importantly, retained an employee that is dedicated to his business with higher moral and satisfaction in her job.          The employee was now able to get life insurance that she otherwise would not have been able to and picked plans only that she could afford.

Voluntary benefits like Accident, Cancer, Disability, Critical Illness, and Dental cost employers virtually nothing and make perfect financial sense.      Should employees decide to leave, COBRA is not involved and the employee can take their plans with them as long as they continue to pay their premiums.     The employee would work directly with the Insurance company making the transition all the more comfortable for everyone involved.

As a business owner, you are continually reminded of your bottom line.       Voluntary benefits can add financial security to your employees at little or no cost to you.     Health and financial struggles are significant distractions to your employees and one diagnosis of an illness or an injury could leave them financially devastated and you with an employee that can’t work to their potential.

Balanced Care believes that your business is vital to the community and your family.     By providing voluntary benefits, you are not only protecting your employees, but making your business stand out, be more competitive, and have a reputation of taking care of the people that help your business thrive.


Terri Trepanier is the Owner of Balanced Care and a licensed Insurance Broker in New Hampshire and Maine.    Terri works with individuals and businesses specializing in Health, Dental, Life, Disability, Long Term Care, Medicare Supplemental, Medicare Advantage, Medicare Part D Prescription Drug Plans, Accident, Cancer, and Critical Illness plans.     She knows the importance of insurance products and how they help families and strives to give her clients the Peace of Mind that each of us deserves .



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