Coverage for accident, critical illness, hospital indemnity, disability, and life insurance can make all the difference in an emergency.
For employers, voluntary + worksite benefits offer a low-cost way to expand benefits packages and attract top talent.
For employees, they provide meaningful coverage that helps manage out-of-pocket costs and life’s unexpected events.
Voluntary / Worksite benefits provide workers with the option to add on affordable health benefits to guard against unexpected occurrences. Because they are offered through the workplace, often at no added cost to the employer, they allow employers to be competitive while keeping costs low.
Common Categories of Voluntary Benefits Include:
Voluntary and worksite benefits give employees the power to personalize their coverage while helping employers build a more competitive, comprehensive benefits package, at little to no additional cost. These programs can be employee-paid or cost-shared, and they extend critical financial protection, enhance well-being, and support long-term retention.
What’s the difference between voluntary and worksite benefits?
Voluntary and worksite benefits are often used interchangeably. Both refer to employee-paid or cost-shared benefits offered through the workplace, such as accident, critical illness, or hospital indemnity coverage, that supplement core health plans and provide financial protection.
How much do voluntary benefits cost employers?
Typically, these benefits are 100% employee-paid. Employers can offer them with no direct cost, while still expanding the value of their overall benefits package. When cost-sharing is chosen, employers maintain full control over contribution levels.
Are voluntary benefits hard to administer?
Not with SBMA. We provide fully integrated systems that streamline enrollment, simplify payroll deductions, and automate eligibility management. Our platform minimizes the administrative lift while ensuring accuracy and compliance.
What kinds of benefits are typically offered?
Common offerings include dental, vision, life, disability, accident, hospital indemnity, critical illness, and identity theft protection. These benefits provide added security and flexibility to employees, helping to close gaps left by high-deductible health plans.
Why should I offer voluntary benefits if employees pay for them?
Because they increase job satisfaction, improve retention, and help your business compete for talent, without impacting your bottom line. Offering these benefits also positions you as an employer that cares about total employee wellness.
How do brokers benefit from offering voluntary benefits through SBMA?
We support brokers with clean data integrations, marketing resources, and U.S.-based service. Voluntary benefits also generate commissions that can offset admin fees or fund additional services, adding value to your client relationships.
Can these benefits be bundled with MEC or major medical plans?
Yes. We streamline enrollment by offering voluntary benefits alongside MEC or other core plans. This ensures a unified employee experience and reduces administrative friction for HR teams and brokers.
How do employees enroll and manage their benefits?
Through our centralized platform and mobile tools. Employees can self-serve, make informed decisions, and manage their coverage year-round, supported by SBMA’s live, U.S.-based customer service team.
What makes SBMA the gold standard in voluntary benefits administration?
Experience, scale, and execution. We bring together expert teams, real-time technology, and unmatched service to deliver benefits that work, for employers, employees, and brokers alike.