Understand Our Voluntary Benefits

Voluntary benefits aim to provide financial assistance to employees in unexpected situations such as an accident, injury, or illness. They’re a great way to supplement existing perks and can be more cost-effective than other forms of coverage. Most companies offer them lower-cost than standard group health insurance, and team members can purchase them through payroll deductions. Participation is typically optional, but numerous employees find voluntary benefits attractive. Therefore, you should consider offering them in your workplace. 

Nesso Benefits simplifies choosing and signing up for voluntary benefits in Connecticut. Our experienced advisors will consider your budget, goals, business size, and industry before providing customized recommendations. We also offer various materials that explain our voluntary benefits in detail, so you can be sure that your employees understand the coverage options. As soon as you decide to move forward with a plan, we’ll handle all the necessary paperwork and provide ongoing support.

Why are Voluntary Benefits Important?

Voluntary benefits can make all the difference in covering medical bills. This kind of coverage offers considerable advantages that give confidence to employers and employees. Our voluntary insurance options are crucial for businesses because they:

• Ensure adequate care for injured or critically ill workers.
• Offer financial protection from unexpected costs associated with severe illnesses.
• Provide flexibility regarding policy options, benefits, and eligibility criteria.
• Improve employee morale and loyalty since they know their employer cares about their well-being.
• Help to attract and retain top talent.
• Supplement existing group health insurance plans.
• Come at a minimal cost for your business.

Types of Voluntary Benefits We Offer

Different unexpected events can occur anytime and negatively impact your business finances. Fortunately, Nesso Benefits has a solution for all your needs. Some of the coverage options we offer include the following:

1. Critical Illness Insurance

This insurance policy will stand between your team members and your finances in an emergency. Some individuals typically assume that a standard health insurance policy offers enough protection. However, that’s not the case considering these life-threatening conditions are costly to treat. Let’s delve further into our critical illness insurance and see whether you and your business should consider it.

About Critical Illness Insurance

The average life expectancy is increasing in the U.S. As a result, older workers require more medical attention than ever before. Since health conditions are expensive to treat, insurers create policies protecting individuals from financial losses. Critical illness insurance is one of these policies, and it pays out a lump sum to the policyholder in case of diagnosis. This coverage can come in handy if your employees suffer from the following medical conditions:

• Heart attack
• Cancer
• Organ transplants
• Coronary bypass

The conditions listed above require extensive treatment and medical care. Suppose your team members lack a health savings account or an emergency fund. In that case, they’ll have difficulty paying these bills out of pocket. On the other hand, critical illness insurance usually caters to costs not covered by traditional insurance. The insurance policy can also cater to nonmedical costs related to the medical condition, such as child care and transportation.

Typically, the insured employee will receive a reimbursement to cater to all the costs associated with the illness. The coverage limits usually vary depending on the policy. Different factors usually impact policy pricing, such as the extent and amount of coverage, age, sex, and the insured person’s health. Critical illness insurance coverage also has some exceptions. Nesso Benefits can explain all the exclusions and terms in detail.

1. Hospital Indemnity Insurance

Nesso Benefits also provides hospital indemnity insurance coverage. Suppose your employee suffers an injury or requires a medical procedure. In that case, they may have to remain hospitalized for an extended period. This policy allows employees to receive benefits for each day spent in the hospital. The insurer will pay the insured a lump sum amount that they can use to cover their expenses.

How Does Our Indemnity Insurance Work?

An indemnity is a form of comprehensive insurance that usually caters to loss or damages. In a legal sense, it can also refer to an exemption from liability for damages. The insurer agrees to indemnify the policyholder against financial losses in exchange for a premium. At Nesso Benefits, our indemnity insurance specifically caters to hospitalization costs incurred due to unexpected injuries or medical emergencies.

Like other forms of insurance, this policy will cover the cost of the indemnity claim, including the cost fees, charges, and settlements. The amount the insurance covers depends on the agreement, and the insurance cost depends on different factors, such as the history of indemnity claims. The type of coverage can also vary depending on your preference and budget. Some indemnity policies only cover inpatient care, while others may include outpatient services such as medications, lab tests, and specialized treatments.

1. Accident Insurance

Accident insurance is another type of policy you can purchase on behalf of your workforce. Depending on your industry, employees may be prone to accidents. For example, construction and engineering workers risk suffering from severe injuries. Even if you provide safety and protective gear, accidents can still occur. Accident insurance is an excellent way to ensure your employees remain financially secure in case of an unexpected event.

How Does Our Accident Insurance Work?

At Nesso Benefits, our accident insurance helps reduce costs associated with injuries or medical procedures due to an accident. However, it will only cover work-related events, not ones outside the workplace. For example, if a team member suffers an injury on their way to the office or while engaging in an activity separate from work, this policy won’t apply. It won’t cover any damages or medical costs due to pre-existing conditions.

When a work-related accident does occur, you’ll have to submit a detailed claim form to your insurer. They will assess the case and determine whether the claim is valid and eligible for compensation. If approved, the company will pay a lump sum to cover all medical costs and damages. The amount depends on your policy limits and can vary between insurers. You can appeal the decision by submitting more evidence and documents if they don’t approve the claim. Nesso Benefits can provide more insight into the process and help you file a successful claim.

Why Choose Nesso Benefits

Experience

Nesso Benefits is a trusted name in the industry with years of experience providing indemnity, accident, and health benefits. Our team of experts knows how to tailor policies for employers and employees. We’ve served many clients in Connecticut and are confident we can find the perfect solution for you.

Relationship With Top Carriers

We carry relationships with some of the top carriers in the market. As a result, we can offer you greater flexibility and access to better rates than other providers. We’ll help you compare various policies and pick the most suitable one. We’ll also guarantee you understand every detail and limitation of your chosen policy.

Comprehensive Support

We understand that insurance can be complex, so we provide comprehensive support for our clients. Our team is here to answer any questions you have about your policy or claims process. We’ll also help guide you through the complexities of health insurance so you can make an informed decision about what’s best for your company.

Cost-Effective

We offer unique plans that are cost-effective and deliver maximum value for the premium paid. We understand that different employers have different needs regarding health insurance, so we create flexible policies tailored to their requirements. We’ll only include the benefits you need, allowing you to get the most out of your policy.

Create A Better Workplace With Health and Benefits

If you’re interested in any of the insurance policies discussed above, consider working with Nesso Benefits in Connecticut. Our knowledgeable representatives will answer all your questions and help you choose the best plan for your business and employees. We’re committed to providing the highest quality customer service and strive to build long-term relationships with all our clients. With Nesso Benefits, you can rest assured knowing that you and your team members will be secure in an unforeseen medical emergency. Contact the Nesso Group to learn more.