Voluntary Benefits Solutions and Insurance Plans
Think offering voluntary benefits is too expensive? Offering voluntary benefits, including dental and vision insurance, is a benefit to both employers and employees.
Flexible Benefit Options
Paychex provides a comprehensive range of voluntary benefit options tailored for you and your workforce:
- Group Dental & Vision Plans
- Accidental Death Coverage
- Short & Long Term Disability Plans
- Life Insurance
- Lifestyle Benefits and Discounts
Benefits for Both You and Your Employees
Employer Benefits:
- Attract and retain top talent with comprehensive benefit solutions
- Boost employee productivity and workplace engagement
- Foster loyalty and job satisfaction by demonstrating commitment to employees' wellbeing and quality of life
Employee Benefits:
- Access affordable coverage through convenient payroll deductions
- Choose insurance solutions tailored to individual and family needs
- Fill coverage gaps left by traditional health insurance plans
Flexible Benefits That Complement Your HR and Payroll
Select what fits, leave what doesn't. Voluntary benefits are available as part of many of our HR and payroll packages — but you don’t need to be a payroll client to offer them to your employees.
Enhance Your Employees' Lives With Lifestyle Benefits
Show employees they're valued with access to our lifestyle benefits marketplace, at no additional cost to the employer, featuring products and services that promote happier, healthier living:
- Financial wellness programs
- Supplemental insurance options
- Entertainment and retail discounts
- Health and fitness resources
- Travel and leisure benefits
Managing Benefits Made Simple
Eliminate the complexity of benefits management for you and your workforce:
- User-friendly, mobile-optimized platform
- Employee enrollment in minutes
- Easy coverage viewing and updates
- Benefits dashboard with customizable reporting
How to Get Voluntary Benefits Through Paychex
Work With an Expert
Our agents compare plan features and costs to match your needs. We'll assess your requirements and gather competitive quotes.
Enrollment
We handle enrollment meetings, educate your employees, and gather completed forms.
Submit Package
We submit your application to carriers for underwriting and competitive rates.
Client Support
Your dedicated client service specialist is just a call away whenever you need support or have questions.
One Platform, Additional Solutions
Beyond voluntary insurance plans, Paychex provides an extensive array of solutions that streamline and address your most challenging business requirements.
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Frequently Asked Questions
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What Are Voluntary Benefits?
What Are Voluntary Benefits?
Voluntary benefits are supplementary insurance options that employees can select to enhance their workplace benefits package. These voluntary benefit plans are generally funded by the employee.
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Why Are Voluntary Benefits Important?
Why Are Voluntary Benefits Important?
Voluntary benefits enable employers to provide attractive employee perks that help with recruitment without additional business expenses, and they can offer tax advantages. Learn more about individual benefits vs. voluntary benefits.
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What Are Some Examples of Voluntary Benefits?
What Are Some Examples of Voluntary Benefits?
A voluntary benefits program can include some or all of the following coverage types:
- Short- and long-term disability insurance: Replaces part of an employee's income for weeks or months if an injury or disability prevents them from working.
- Life insurance: Provides a financial payout to a named beneficiary upon the death of the insured.
- Dental and vision insurance: Popular options that cover routine visits, preventive exams, treatments, glasses, and contacts.
- Hospital indemnity and critical illness: Protects against large financial burdens from costly medical diagnoses or treatments.
Other examples include pet insurance, tuition assistance, and telehealth access. Benefits providers can help customize these offerings to fit your needs.
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Can Voluntary Benefits Be Pre-Taxed?
Can Voluntary Benefits Be Pre-Taxed?
Certain voluntary benefits may be configured to deduct premiums from an employee's paycheck before taxes are applied – also known as pretax deductions. This benefit effectively lowers the employee's taxable income and helps them save on federal and state taxes.
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Are Fringe Benefits the Same As Voluntary Benefits?
Are Fringe Benefits the Same As Voluntary Benefits?
While often used interchangeably, these terms differ slightly. Fringe benefits encompass broader non-wage compensation like health insurance or paid leave. Voluntary benefits refer to additional coverage options that employees choose to enroll in, such as dental or vision insurance.