Devoted to the Insurance industry and all thing related

MetLife Inc. (MET) conducted their fifth annual “Study of Employee Benefit Trends” according to nationalunderwriter.com.  The findings are not too much of a surprise.  Payroll deductions come out on top as 51% of employer survey participants “cited payroll deductions as a major reason to offer voluntary benefits.”

Another important reason was the advantage of purchasing group instead of individual insurance.  Obviously group coverage is going to cost significantly less than individual policies.  I’m sure many of us wouldn’t mind one big United States group policy instead of smaller policies among one company.  Dare I say universal health insurance for all?

Employees had some similar perspectives on this issue including 63% that said, “payroll deduction was a convenience” and 58% “citing the fact that group insurance required no medical exams.”  Turning in a health insurance application without worrying about a medical exam is definitely a relief for many.  

Are you a proponent of voluntary benefits?