As health care exchanges go online and fewer businesses are burdened with a full health care plan, an interest in voluntary products continues to grow. United Benefit Advisors released preliminary results from its Ancillary Products Survey, which indicates vast differences in voluntary benefits offered by employer size, region and industry, highlighting the importance of using local benchmarking data in benefits planning.
Survey highlights include:
- Nearly three-quarters of all employers responding offer dental coverage, with almost all large employers providing the benefit.
- Ninety-five percent of businesses replying with more than 500 employees offered group term life insurance, yet only 56 percent with fewer than 50 employees offered this benefit.
- An industry breakdown of short-term disability coverage shows that 37 percent of employers responding in all major industries offer the coverage.
- Only 0.5 percent of the employers in the survey offer on-site clinics, however, among employers responding to the question with more than 500 employees, the average was 7.4 percent.