Ancillary benefits are additional insurance products employees can purchase through their employers or on their own to supplement their primary health and life insurance coverage. Ancillary benefits can provide employees with extra financial protection and peace of mind in case of unexpected events, such as accidents, illnesses, hospitalizations, or death.
Ancillary benefits can help cover the gaps in their insurance plans, such as deductibles, copays, coinsurance, and out-of-pocket expenses. They can also provide them with lump-sum cash payments that they can use for any purpose, such as medical bills, living expenses, debt payments, or funeral costs.
There are different types of ancillaries to choose from, depending on an employee’s individual needs and preferences. Some of the most common ancillary benefits are:
- Dental insurance: This benefit covers the costs of preventive, basic, and major dental services, such as cleanings, x-rays, fillings, extractions, root canals, crowns, implants, and dentures. Dental insurance can help you maintain your oral health and prevent tooth decay and gum disease.
- Vision insurance: This benefit covers the costs of routine eye care, prescription eyewear, contact lenses, and other vision services. Vision insurance can help you take care of your eyesight and detect signs of chronic diseases such as diabetes, high blood pressure, and high cholesterol.
- Accident insurance: This benefit pays a lump-sum cash benefit to you if you suffer an injury or death due to a covered accident, such as a slip, fall, car crash, or sports injury. The benefit can be used to pay for medical bills, lost wages, transportation costs, or any other expenses related to the accident.
- Critical illness insurance: This benefit pays a lump-sum cash benefit to you if you are diagnosed with a covered critical illness, such as cancer, heart attack, stroke, or kidney failure. The benefit can be used to pay for medical treatments, living expenses, debt payments, or any other expenses related to the illness.
- Hospital indemnity insurance: This benefit pays a fixed cash benefit to you if you are hospitalized due to a covered illness or injury. The benefit can be used to pay for hospital bills, deductibles, coinsurance, or any other expenses related to the hospitalization.
- Life insurance: This benefit pays a lump-sum cash benefit to your beneficiaries in case of your death. The benefit can be term, permanent, or whole life, depending on the type and duration of the coverage. The benefit can help your beneficiaries pay for funeral costs, debts, taxes, education, or any other expenses related to your death.
- Pet insurance: This benefit covers the veterinary costs for your pets in case of accidents, illnesses, injuries, or preventive care. The benefit can help you save money on your pet’s health care and avoid unexpected vet bills.
How Vesta Employee Benefit Solutions Can Help You
Vesta Employee Benefit Solutions is a leading provider of ancillary benefits for employers and employees. Vesta offers a wide range of ancillary benefits that can be customized to fit the needs and preferences of each employee. We provide personalized guidance and support throughout the enrollment process and beyond. We also leverage technology and communication tools to ensure that employees understand and appreciate the value of their ancillary benefits.
By offering ancillary benefits through Vesta Employee Benefit Solutions, you can enhance your employee benefits package and attract and retain top talent. Employees can enjoy more comprehensive and affordable insurance coverage and protection for themselves and their loved ones.
To learn more about ancillary benefits from Vesta Employee Benefit Solutions, call us today.