Texas Voluntary Benefits Plans

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Texas voluntary benefits plans allow employees to add a variety of options to the benefit package. Voluntary benefits are paid by the employee but are usually obtained at a reduced rate due to arrangements between employers and insurance carriers. There is very little, if any, cost to the company. Lower costs means more profit in the company. This is very important for employees with the benefit of profit sharing.

An example of an option Texas voluntary benefits plans might include is dental coverage. A traditional insurance plan allows the employee to choose the dentist. HMO or PPO plans require the use of providers in their database only. This is because of the contract companies sign with the insurance of choice. The HMO and PPO companies contract with providers for service at a set fee of reimbursement.

Popular Texas Voluntary Benefits Plans

Other options include term or universal life insurance. There are many levels of coverage for life insurance. Some policies can be a standalone while others must be a supplement to employer-related coverage. Disability is another option offered in various waiting periods and lengths. There are short-term and long-term options.

Vision coverage and long-term care are available in Texas voluntary benefits plans. Your choice of voluntary benefits can be included in your payroll deduction. Making the choice available for benefits is a lot more cost effective for the employer over funding an all-inclusive policy for every employee. This gives the employee the option of personalizing their policy rather than paying for something they do not want or need.

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