Voluntary Benefits for Temporary Employees
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Almost all of my clients and prospective clients say the same thing when it comes to providing health benefits for their temporary staff, “We want to offer something good, without the cost forcing us out of business.”
In our current landscape where a MEC/MVP health plan is the affordable and compliant alternative most companies turn to, it just makes sense to offer voluntary benefits to help shore up the coverage offered to temps.
For those who aren’t familiar with a Minimum Essential Coverage (MEC) and/or Minimum Value Plan (MVP) I won’t go into too much detail, but these plans in a nutshell provide the bare minimum coverage to temps while keeping the employee and employer compliant.
- The MVP is major medical, but temps typically don’t want this due to the costs associated.
- The MEC only covers preventative and wellness procedures.
Offering voluntary benefits gives temps better options and the employer a more robust overall benefits plan. The following is a list of potential benefits to employers and temps:
- Cost can be 100 percent paid by temp or shared with the employer. Either way, the costs associated with the voluntary benefits are typically affordable.
- The temp has a choice if they want to purchase or not.
- Dental and vision coverage becomes available, which are two of the most desired coverages for those in the temp positions.
- Hospital indemnity gives temps set amounts/percentages of money to help pay for doctors’ visits and procedures that aren’t covered under the MEC. They can see a physician of their choice.
- Temps get access to life insurance, many times with guaranteed issue.
- Temps are more likely to keep coming back to your company instead of one that doesn’t offer these extra benefit options.
- Offering these voluntary benefits makes your company more competitive when bidding for new clients.
All in all, voluntary benefits are a way to enhance the MEC coverage they get at affordable pricing without having to go up to the MVP. If you’d like to learn more about voluntary benefits for temporary employees, contact us today.
- MEC & MVP- What They Mean for You
- Voluntary Benefits are a Win-Win
- Educating Employees on Voluntary Benefits
- Assurance Calculator: Total Cost of Employee Benefits
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