The employee demand for voluntary, employee paid products has seen a significant increase in recent years. Products such as accident, cancer, critical illness and hospital insurance have entered into the mainstream and become core parts of a well-rounded employee benefit package. Employers who adopt group based worksite products can not only offer a more comprehensive benefit package, but also add much in the way of administrative support for all benefit offerings in the process.
The way in which this is done is through the large amount of additional fees and commissions normally generated in worksite product enrollments.
At Kainos, we work with our clients to generate new revenue by offering voluntary products. Our philosophy is to share in this value creation with our clients. The end result is that more fees are added to the equation, allowing for significant enhancements in services being delivered to our clients. These services vary based upon each client, but often included benefit administration assistance, bill reconciliation, custom designed communication materials and one-on-one employee meetings.