Top 4 voluntary trends of 2011, what to look for in 2012

Due to economic factors employers package their services in such a way that costs of implementing and maintaining benefits are low for the employer, says Marty Traynor, VP of voluntary benefits at Mutual of Omaha.
“We, the Insurance carriers, and the brokers that work with us can help employers find solutions to their own internal administration expenses for benefits that would be a factor that would be a plus as well,” he says. “If there’s one caution you have to make sure affordability is built into the equation of the product offering. You don’t want to offer a portfolio of benefits that makes an employee think their voluntary benefits packages is too expensive.”

As more baby boomers are looking towards retirement employers are broadening their portfolio of products while also making them affordable since plan participants enjoy choices.
“Thousands of baby boomers are reaching age 65 and whether they’re making a decision to retire early or to retire in the future that large demographic is going to drive interest and a lot of benefits creativity that right now is probably lacking,” says Traynor.