For more than two decades, Bill Scuorzo, the CEO and president of BCG Advisors in Secaucus, New Jersey, has provided a variety of employee benefits solutions to clients. Formerly a sales representative for a health insurance carrier, Bill Scuorzo finds the trend toward voluntary benefits exciting.
Voluntary benefits, such as car insurance, homeowner’s insurance, and travel insurance, are made available to employees through their workplace. Usually, the price of these benefits is discounted.
However, employees are generally responsible for paying either all or most of the enrollment costs. This saves the company money since it is not responsible for covering voluntary benefits and saves employees money since group rates through a company are often lower.
Though voluntary benefits are optional, their availability to employees is hugely beneficial. Voluntary benefits make employers more attractive to new talent. Nearly 70 percent of employers already recognize that voluntary benefits will become an important part of their rewards strategy over the next five years.
