Life Insurance Most Common Benefit

A news release from Cammack LaRhette Consulting said disability programs were the next most common programs, offered by 46%. Both life and disability insurance rank as the most “mature” voluntary benefit, offered for more than 10 years.

Vision care showed the greatest average employee participation level at almost 59%, according to the survey. Life and disability participation were lower at 36% and 38%, respectively.

“As employers continue to struggle with rising health care costs and the decreasing availability of talent, many have looked at voluntary employee-paid benefits as a way to add items to their total rewards package without increasing costs to the employer,” said Erin O’Connor, Practice Leader, Human Resources, Cammack LaRhette Consulting, in the news release.

The survey showed a low percentage of organizations offering critical illness insurance, cancer coverage, legal plan, long term care, pet insurance and identity theft insurance.

More than half of the respondents did not plan on offering additional voluntary benefits, mostly due to the complexity of administration and resources that additional benefits would entail.

The announcement said the 138 survey respondents ranged in size from smaller than 100 employees to more than 5,000 employees. More information is at www.clcinc.com .