A report released by Aflac found that small-business employees may be among the happiest people in the workplace. In fact, 85 percent of these employees are happy in their current job, and 51 percent agree that most of their happiness in their current job is because they work for a small business

Although small businesses are excelling at keeping employees happy, 65 percent of small-business employees indicate that an improvement in their benefits offerings would make them even happier, according to the Small Business Happiness Report. This means advisers can help clients see where they may have room to improve. With small-business employees putting so much stock in benefits, it is important for clients to choose benefits that can help workers maintain their lifestyle if an unexpected illness or accident occurs. Supplemental coverage is especially important for small-business employees, and below are some reasons advisers can share with clients to help ensure their employees have protection they can be happy about. 

Benefits beyond the basics

Increasing health care costs continue to drive demand for supplemental benefits options — and there’s no surprise there. As major medical premiums rise for small-business owners, more costs will continue to shift to employees. Supplemental policies are a way for employers to ease the cost burden on their business but provide that necessary financial protection for employees when they’re sick or injured, regardless of their major medical insurance. For the employer, premiums for voluntary insurance coverage are paid by employees who choose to apply, so policies can be offered at no direct cost to a company. 

For the employee, voluntary products help cover costs that major medical may not, which is essential now more than ever. Supplemental policies, such as disability, cancer and critical illness, allow employees to customize their benefits package according to their individual needs and lifestyle. Plus, these policies can help workers stay ahead of unexpected costs in the event of an unforeseen illness or injury by paying cash benefits to help cover out-of-pocket costs or contribute to daily living expenses. Employees who are offered and enrolled in voluntary insurance plans report higher levels of job satisfaction and believe they’re more financially prepared to handle sudden events like disability, injury or death, according to the 2016 Aflac WorkForces Report.

Supplemental provides comprehensive coverage

Typically, small businesses don’t have an HR team, so they have less time and resources to ensure employees have the right benefits or understand what’s offered. That said, advisers can serve as that resource, helping clients educate employees on how supplemental insurance works hand in hand with major medical plans in a way that is simple and straightforward. 

Happy workforce means good business

Happiness can have a huge impact within the workplace, and benefits may be a key component for achieving that, especially for small businesses. As health care costs continue to rise, advisers can help small-business clients develop a comprehensive benefits plan to help their employees manage the rising costs. Incorporating supplemental policies is a way for everyone to win. 

Aflac herein means American Family Life Assurance Company of Columbus and American Family Life Assurance Company of New York.

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