"More and more companies are promoting voluntary products in place of employer-funded benefits. One in three (34%) employers identifies “providing a wider array of voluntary offerings” as a top benefits priority. The same percentage (34%) of workers is interested in having access to a wider array of voluntary benefits, up from 28% in 2003."

– MetLife Study of Employee Benefits Trends,
November, 2004

Voluntary worksite benefits are insurance programs that are offered by employers in which eligible individuals enroll at their own volition. These programs are typically paid for by employees to supplement the gaps as they relate to the core benefit plan (i.e. medical, dental, short-term disability, etc.).

Why are voluntary benefit programs increasing in popularity? The trend in our economy seems to indicate a continual rise in health care costs. According to a study by LIMRA in 2003, premiums have increased 72% in the past five years. The net effect of these employer challenges is that increased costs are being shifted to employees through higher premiums, co-pays, deductibles, etc., increasing a growing financial burden on many workers. Consequently, voluntary benefits packages have become more popular because they can help reduce the financial impact of gaps in coverage. An example of this could include adding an accident policy to offset higher deductibles in the existing medical plan.

As this trend continues, voluntary benefits will play an important role for both employers and employees in the workplace. Our goals are to provide employers with the capability to offer supplemental insurance programs and value added services and to provide employees with the information and guidance to make purchasing decisions based on their individual concerns and obligations.

Voluntary Benefits May Be the SOS We Need

Voluntary Benefit products available through JMA include:

  • Accident Insurance
  • Dental Insurance
  • Disability Insurance (short- and long-term)
  • Limited Medical Insurance
  • Life Insurance
  • Long Term Care Insurance
  • Critical Illness/Cancer Insurance

Voluntary Benefit services available through JMA include:

  • Designated account management team - our team deals directly with the client for all aspects of the program including design, communications, enrollment strategy and administration
  • Enrollment capabilities - we can also help employers communicate changes in the core benefit offerings during open enrollment or through the use of benefit statements
  • Personalized one-on-one laptop meetings - permits employees to ask how the voluntary benefit products apply to their individual situation
  • Professional benefit counselors - that are trained to explain both core benefits and voluntary benefit programs
  • Bilingual communications/literature
  • National enrollment capabilities - which enables enrollment in multiple locations
  • High volume enrollment capacity - we are prepared to meet and enroll all employees regardless of the size of the corporation
  • Internet Enrollment/E-enrollment - allows employees to enroll on-line using an electronic signature
  • Personalized benefit statements - which show both employee and employer contributions
  • Call center - we also offer enrollments via telephone in which employees can call in to a representative

Employee Communications

  • Pre-Enrollment communications - we send out announcement letters, memos, posters, payroll stuffers to help employees understand the program
  • Customized enrollment materials - we make sure that communication materials represent the culture of the firm

Administrative Services

  • Convenience of payroll deduction
  • Policyholder service department - employees can contact the account manager or ask questions via the carrier’s toll-free number
  • Electronic data management

For more information on Voluntary Benefits . . .

Jim Mooradian is a registered representative of New England Securities Corp. Securities and Investment Advisory Services offered through New England Securities Corp, Boston, MA 02116, a broker/dealer (member FINRA, SIPC) and a Registered Investment Advisor, licensed in AZ, CA, CO, CT, FL, GA, IL, MA, MD, ME, MI, NC, NE, NH, MJ, NY, OH, OR, PA, RI, TX, UT, VA, VT, and WA Jim Mooradian and Associates, Inc. is a separate entity from New England Securities and New England Financial. New England Financial is the service mark for New England Life Insurance Co., Boston, MA, and related companies. New England Financial and New England Securities do not provide specific tax or legal advice. To obtain such guidance please consult your personal tax or legal advisor. Most insurance policies contain exclusions, limitations, reductions of benefits, surrender charges and terms for keeping them in-force. Please note that not all products and services are available in all states. Note the TPA services provided by Jim Mooradian & Associates, Inc are not affiliated with NES or any of its affiliates. Compliance # L#03083954[exp0409][All States]