What Are Ancillary Benefits?
Ancillary benefits (sometimes called voluntary benefits) are designed to supplement medical insurance and retirement savings plans. Available through work or purchased on an individual basis, ancillary benefits help address issues medical insurance may not cover, like dental and vision care services and lost wages due to an unexpected life event.
Examples Of Ancillary Benefits
Dental Insurance
Poor oral health has been linked to serious conditions like heart disease and diabetes, which is one of the reasons regular visits to the dentist are so important.1 Dental insurance provides benefits for routine dental exams and other dental procedures that are not covered by most health insurance plans.
EXPLORE DENTAL INSURANCE
EXPLORE GROUP DENTAL INSURANCE FOR EMPLOYEES
EXPLORE DENTAL INSURANCE FOR INDIVIDUALS AND FAMILIES
Vision Insurance
Vision insurance typically helps pay for eye exams, glasses and contact lenses. Regular eye exams help maintain healthy vision and are the first line of defense in detecting more serious conditions, such as glaucoma, high blood pressure and diabetes.2
EXPLORE VISION INSURANCE
EXPLORE GROUP VISION INSURANCE FOR EMPLOYEES
EXPLORE VISION INSURANCE FOR INDIVIDUALS AND FAMILIES
Life Insurance
Life insurance policies are designed to provide income and financial support to an employee’s beneficiaries in the event of their untimely death. This important coverage can help to protect their loved ones and make difficult times easier to manage.
EXPLORE LIFE INSURANCE
EXPLORE GROUP LIFE INSURANCE FOR EMPLOYEES
Disability Insurance
Short-term and long-term disability insurance replace a percentage of an employee’s income if they are unable to work due to a non-occupational illness, accidental injury or prolonged disability
EXPLORE DISABILITY INSURANCE
EXPLORE GROUP DISABILITY INSURANCE FOR EMPLOYEES
Supplemental Health Insurance
RenSecureHealth is an innovative supplemental health plan that eases the financial strain of unexpected medical expenses in one simple, easy-to-use plan.
EXPLORE SUPPLEMENTAL HEALTH INSURANCE
EXPLORE GROUP SUPPLEMENTAL HEALTH INSURANCE FOR EMPLOYEES
Accident Insurance
Accident plans pay cash benefits directly to employees after an injury, helping them cover out-of-pocket costs independent of their health insurance coverage.
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EXPLORE GROUP ACCIDENT INSURANCE FOR EMPLOYEES
Ancillary Benefits Support Health and Financial Well-Being
Ancillary benefits help support overall health and well-being. Preventive dental and vision exams, for example, can help detect early signs of certain chronic conditions like heart disease and diabetes.1,2 By supporting access to preventive care, dental and vision benefits are important for catching these potential health problems early — before they become more painful and costly.
Other voluntary benefits like disability and life insurance, can help provide valuable income protection and financial security. These benefits can be even more valuable when enhanced with value-added offerings included in some life and/or disability programs, such as travel assistance, beneficiary companion assistance and identity theft resolution.
Ancillary Benefits for Your Business
Ancillary benefits like dental, vision, life and disability insurance can help businesses offer their employees competitive benefits plans with little to no impact on their bottom line.
Why Offer Ancillary Benefits to Employees3,4
- Help support employees’ overall health and well-being.
- Alleviate employee stress to increase productivity and improve retention.
- Increase job satisfaction.
- Attract and retain top talent.
- Save money.
Employee Benefits Are More Important Than Ever
- Employer-sponsored benefits continue to be a non-negotiable piece of the employee value proposition.5,6 In fact, compensation and benefits remain top priorities for job seekers—second only to work-life balance.7
78% of employees are more likely to stay with their employer because of their benefits program.8
As an organizational leader, it can be difficult to choose between decisions that are good for business and those that are good for your people—especially in the midst of economic uncertainty. But when it comes to employee benefits, it doesn’t have to be one or the other.
Protect Your Bottom Line While Helping Your Employees Save Money
Offering ancillary benefits doesn’t require extensive resources or funds. This allows employers to design a more attractive benefits package while maintaining their budget. It can also help small businesses compete with larger companies that have bigger budgets for salaries.9
For employees, ancillary benefits allow them to choose the right mix of coverage for their income and lifestyle needs. This can provide income protection in an uncertain economy and help them save money on preventive care. Plus, they can take advantage of a group/employer rate, which is typically more affordable than what employees would pay as individuals for similar coverage.3
The bottom line? Offering ancillary benefits can be a simple and cost-effective way for businesses of all sizes and budgets to prioritize preventive care and employee well-being, and attract and retain talent.
Discover Ancillary Benefits with Renaissance
Renaissance ancillary benefits plans are designed to be innovative and flexible. Our coverage options help members get the regular care they need to stay healthy while providing financial protection for potential unexpected problems along the way.
