From the July/August 2011 issue of Treasury & Risk magazine

More Protection, at a Price

More companies bulk up their benefits packages with offerings that are paid for by employees, but use group buying power.

UmbrellasThe rising cost of employee benefits is fueling growth in voluntary benefits—those offered by the company, but paid for entirely by employees, often through payroll deductions.

“Voluntary benefits allow employers to offer a more robust benefits package without necessarily incurring more cost,” says Bonnie Brazzell, vice president at Eastbridge Consulting Group. Such benefits range from supplemental life insurance and critical illness and accident policies to pet coverage.

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