Accident insurance can help employers meet the needs of their workforce. This voluntary benefit appeals to a multigenerational workforce as an important supplement to employees’ health plans. An increasing number of employees are interested in voluntary benefits like accident insurance, and, as a result, this pressure has raised expectations for employers’ offerings.
Holistic Protection for Employees
By offering accident insurance as a voluntary benefit, employers can help financially protect employees in case of an accidental injury. In addition to paying for medical services, payments from accident insurance can pay for out-of-pocket medical expenses and daily living expenses, and cover lost income from unpaid time off.
This benefit allows employees leverage to save some money when accidents occur. That is a perk that employees will use and value when the unexpected happens to them or their family. Employers are in a position to help offer a financial safety net for employees. Providing accident insurance can help ease employees’ financial stress, which results in employees being less worried and, overall, more satisfied.
Accident insurance often is not subject to the same legal and regulatory issues associated with other plans, which leads to easier implementation and upkeep. There are typically no fees or costs to employers to offer accident insurance plans to employees. Additionally, accident insurance is a good way to offer benefits that meet employees' evolving needs, while reducing the impact to their bottom line.