New England Fuel Institute member companies can satisfy employees and improve recruitment by offering voluntary benefits programs available through a new partnership between NEFI and Colonial Life.
Colonial Life, the nation’s second largest provider of voluntary benefits, is offering several benefits programs that companies can make available to employees at no cost to the company. The programs include the following.
Accident insurance: Helps offset unexpected medical expenses due to a covered accidental injury.
Hospital confinement indemnity insurance: Provides a lump-sum benefit to help with covered hospital stays or outpatient surgeries.
Disability insurance: Helps employees make ends meet after a covered accident or illness.
Life insurance: Helps provide financial security for employees’ family members.
Specified disease insurance: Helps offset out-of-pocket expenses related to cancer.
Critical illness insurance: Provides a lump-sum that can be used to help pay costs related to a covered critical illness.
Employees are concerned about healthcare costs and want to protect their income, according to Kristy Colgate, District Development Manger for Colonial Life. Employee retention improves when a company offers supplemental benefits, and prospective employees are more likely to choose such a company, she said. “Offering these benefits allows you to provide employees with a financial safety net and at the same time give them more options.” The voluntary nature of the Colonial Life programs is great for companies that want to offer employees more without bursting their own benefits budgets.
“Partnering with Colonial Life gives you the ability to offer quality products to your employees and at the same time the ability to offer some great value adds — at no cost to your company,” Colgate said. Participating companies can offer all employees Colonial Life’s Wellcard Savings discount program, which enables employees and their whole families to receive discounts for pharmacy, vision, hearing, dental and more. Companies with 25 or more employees can also participate in Colonial Life’s college tuition benefit program, which allows the company to give college scholarships each year to employees for the benefit of their children, grandchildren, nieces and nephews.
NEFI benefits whenever companies choose to use Colonial Life benefits, because the insurer (a NEFI member) pays a marketing fee to the association. For more information, contact Colgate at 508-380-5547 or k.colgate@NEEnrollment.com.