Voluntary Benefits Defined-

Voluntary Benefits— Voluntary benefits—or supplemental benefits—are insurance products offered through an employer but are paid for partially or solely by workers through payroll deductions.

Voluntary benefits programs allow employees to enroll in accident, disability, critical illness, and dental insurance at significantly lower rates than they would pay as individuals.

Voluntary Benefits pay tax-free money directly to an employee upon the occurrence of a covered injury or illness.

Most employees use the funds to cover their deductibles, coinsurance, and medical expenses not covered by their standard insurance policies. In addition, an employee may use funds to pay for utilities, groceries, house payments, and lunch for the kids.