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Are you offering voluntary benefits to your customers? Now’s the perfect time. Eight in 10 employers say they care about their employees life family.1 Yet in today’s world, it’s become

a huge challenge to support that family, to ease the stress on their workforce while also managing the bottom line. Fostering engagement, productivity and loyalty helps—as does offering the right benefits.

For many employers, supplemental insurance benefits are something they may not have thought of. Unlike like core benefits, supplemental insurance pays cash benefits directly to employees, not to doctors or hospitals—and is in addition to any core benefits that employees may receive. This means employees can use the money in any way—whether it’s covering medical bills or household bills. At a time when around 50% of Americans are worried about affording food and expect to miss bill payments,2 cash benefits can mean putting food on the table and keeping the lights on. » And 78% of employees are more likely to stay with their employer because of their benefits program. 3

If you are a broker, what does this mean for you? Well, it’s a perfect time to introduce your customers to these supplemental benefits that can be offered to their employees at no cost to them. And, it can generally be enrolled at any time. This means employers can meet the needs and concerns of their employees in real time. Many employees may have previously discounted voluntary benefits because they didn’t understand the value, or because they didn’t realize the gaps left by the core benefits they receive. Supplemental insurance allows employers to quickly fill these needs—and in light of recent events, right when they’re needed most. While brokers want to be successful in this area, they report not having enough time to sell voluntary, or even research carriers and their offerings, let alone managing administrative and billing issues.4 The good news? Building a partnership with a voluntary benefit enrollment firm addresses these needs and makes adding to what they offer to employers easy. Brokers may be leery of traditional enrollment firms, fearing they may lose control or commissions, or who have limits on the size of the enrollments they’ll take on. And those same enrollment companies generally have limits on the group size or working conditions.

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InsuranceNewsNet Magazine » October 2020

That’s where a non-traditional enrollment service like WN2 Enrollment Solutions can help. As a partner whose goal is to improve the client experience and allow brokers to expand their business, managing enrollments for voluntary benefits to employees is our area of expertise. If variables like size, location or working conditions have made it difficult to work with an employer group, a non-traditional firm provides much more flexibility. On top of that, we can help alleviate some of the burden in feeling the need to be a “voluntary benefits product expert.” And technology? That is ever-changing, ever-advancing and can be hard to keep up with. The WN2 Enrollment Solutions experts offer a benefits platform that makes benefits administration easy while providing online enrollment when needed. Plus, custom websites can be created to offer a single access point for enrollment, plan documents, forms, etc.

Heeding the call Even in the midst of enrollment season, it’s not too late to get support for your enrollments, especially when you have a resource that can support an enrollment in any location, for any size, and in any working conditions. 41% of employees feeling their employer is not currently offering benefits or programs that help support or improve their well-being, and 77% say such benefits or programs would ease their stress and improve their well-being.5 Help your employer clients heed this call to foster engagement and loyalty from their workforce that will last far into the future. Quickbooks, Small business employers say they care about employees like family, https://quickbooks.intuit.com/payroll/hiring-management/#work-familysurvey, November 2019; 2Investopedia, Americans Expect COVID-19 to Greatly Impact Their Finances, https://www.investopedia.com/how-do-americansexpect-covid-19-to-impact-their-finances-4801944, April 6, 2020; 3Willis Towers Watson, Employees are more likely to stay with their employers when offered a group benefit marketplace, https://www.willistowerswatson.com/en-US/ insights/2018/08/employee-and-employer-satisfaction-with-group-benefitmarketplaces-survey-results, August 2018; 4Eastbridge Consulting Group, Brokers and Voluntary Benefits—The Competition Intensifies. 2018: 5Yahoo! Finance, More Than Half of Employees Cite Financial Health as Biggest Concern Amidst the COVID-19 Pandemic, https://finance.yahoo.com/news/more-half-employees-citefinancial-120000175.html, April 28, 2020. 1

WN2 Enrollment Solutions is a division of Washington National Insurance Company, home office: Carmel, Indiana. Policies and benefits are subject to state availability.

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InsuranceNewsNet Magazine - October 2020  

Special Election Coverage | 2020 Vision – Or Revision? Regulations, taxes and health insurance are all on the line in this election.

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