Small Business Glossary and Definitions
What are Voluntary Benefits?
Voluntary Benefits are the products within a compensation package that are offered by an employer but employees can choose whether or not they want to participate. These benefits are almost exclusively benefits that the employer pays a portion of and the employee is responsible for another portion. A group health insurance plan where the employer pays a certain amount and employees are responsible to pay for their own portion through payroll deductions is an example of a voluntary benefit.