Voluntary benefits and benefits personalization: What you need to know
WEX Benefits
WEX offers complete benefits administration, including benefits accounts such as HSAs, FSAs, HRAs, LSAs, COBRA, and more
In 2024, the landscape of employee benefits is evolving rapidly. And we understand the importance of staying informed and adapting to these changes to ensure you have the inside scoop. It has become even more apparent that voluntary benefits and benefits personalization play a crucial role in enhancing job satisfaction, promoting financial wellness, and fostering a healthy work-life balance. From compliance essentials to personalized pet benefits, we've got you covered with insights and practical tips to optimize your benefits package.
Voluntary benefits and compliance
Voluntary benefits offer employees the flexibility to customize their benefits package according to their individual needs and preferences, enhancing overall job satisfaction. Additionally, these benefits can contribute to a healthier work-life balance by providing access to valuable services such as wellness programs, financial planning, and insurance coverage beyond traditional offerings. But there are some voluntary benefits rules you need to follow to stay compliant. Make sure to check out our blog post covering the top five things to know about voluntary benefits.
Voluntary benefits and first-time enrollees
When it comes to navigating the world of employee benefits, there’s a lot for your employees to take in, especially if they’re a first-timer to benefits. Among the suite of benefits your employees are likely to be offered, voluntary benefits are often misunderstood. Check out our blog post to explore all the unknown voluntary benefits terms, so your employees can become? voluntary benefits pros.
Financial wellness and benefits personalization
Employee financial wellness is at its lowest point in years as we face economic uncertainties and challenges, prompting individuals to turn to their employers for support. This time of financial difficulties indicates a need for a more personalized benefits experience and comprehensive education to empower employees to confidently manage their finances and engage with their benefits. Check out our blog post and empower your employees with the tools they need to be at their best!
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A guide to voluntary benefits
Voluntary benefits give employees the opportunity to further customize their benefits package to meet their personal needs. And they serve as an excellent cost-effective recruitment and retention tool for employers as they look for ways to improve their benefits offerings. In fact, 76% of employees in a survey said voluntary benefits would entice them to stay at their current company. Check out our blog post for a comprehensive guide about all things voluntary benefits.
Pet benefits personalization
Just like humans, pets can face unexpected health issues or accidents that may require veterinary attention. This is where pet benefits come into play. We surveyed our participants earlier this year and asked what benefit they’d like to learn more about, pet insurance received the third-most responses. So your employees’ interest is piqued, too! Check out our blog post covering pet insurance and why your employees need this personalization in their suite of benefits today!
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The information in this newsletter is for educational purposes only. It is not legal or tax advice. For legal or tax advice, you should consult your own legal counsel, tax and investment advisers.?
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