Supplemental benefits are additional perks and coverages that employers can offer to enhance their employees’ benefit plans. These benefits go beyond the core offerings such as health insurance, retirement plans, and paid time off. They provide added financial security and support for employees in specific areas that may not be fully addressed by standard benefit plans.
In summary, supplemental benefits go beyond the basics of traditional benefit plans, offering employees additional coverage and financial security. Employers should consider adding these benefits to attract and retain talent, increase employee satisfaction, address diverse needs, provide cost-effective options, and potentially benefit from tax advantages.