Lack of a comprehensive voluntary benefits strategy can lead to inconsistencies in benefits design, branding and administration, which derail the overall objectives of the employer's Total Rewards program. (Photo: Shutterstock)

A day doesn't go by without headlines announcing significant shifts in the health care landscape. January heralded the announcement that Amazon, JPMorgan Chase and Berkshire Hathaway will develop their own health care system for their employees. More recently, the Aetna/CVS merger and Humana/Wal-Mart announcements suggest monumental changes are on the horizon for health care delivery.

With this volatility, employers must manage rising health plan costs and continue to provide value to their employees. The burden of rising costs is being shouldered by employers and employees while coverage is simultaneously being eroded.

Cost-saving strategies are now shifting to voluntary benefits. Mainstream carriers are focusing their energy on these products to offer solutions to employers struggling to provide employees with creative ways to cope with the increasing, out-of-pocket medical expenses that are inherent in high deductible health plans. With this in mind, many employers have started offering worksite voluntary benefits such as accident, critical illness and hospital indemnity insurance, but often without a comprehensive voluntary benefits strategy. This can lead to inconsistencies in benefits design, branding and administration, which derail the overall objectives of the employer's Total Rewards program.