A Conversation on Coverage Offerings and Supplemental Products

Upgrade Your Benefit Plans with Our Benefit Risk Advisors

By Chris Gertz

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Did you know that employee benefits and additional offerings can enhance your company's benefit plans? Let's take a closer look at the two main categories of employee benefits: core benefits and supplemental/ancillary benefits.

Core benefits encompass essential offerings that address basic life needs, such as health insurance and retirement plans. As the employee marketplace evolves, employers are recognizing the importance of supplementing these core benefits with additional coverage options. Core benefits tend to cover basic life needs and form the foundation of an employee benefit program.

‍Examples of core benefits include:

Health insurance

Retirement plans

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Supplemental or ancillary benefits, on the other hand, provide additional coverage beyond core offerings and can be offered on a voluntary basis (where employees pay the cost) or an employer-paid basis.

Examples of supplemental benefits include:

Life insurance

Short-term disability

Long-term disability

Dental coverage

Vision coverage

Cancer insurance

Accident insurance

Critical illness coverage

Identity theft protection

Cybersecurity services

Pet insurance

Teladoc services (virtual health care)

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In today's competitive job market, offering a comprehensive benefits program is essential for attracting and retaining top talent. Employers need to be innovative and creative in designing benefit packages that meet the diverse needs of their workforce.

If you're interested in offering these types of employee benefits, please don't hesitate to contact us at Hummel Group. Our team is here to help you explore your options and design a custom benefit program that sets your company apart.

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