Workers Use Voluntary Benefits as a Safety Net for High-Deductible Health Plans

Workers are purchasing disability, accident, and permanent life insurance to fill gaps created by higher healthcare costs. Employers are shifting more costs onto workers by increasing copays and deductibles. Accident insurance provides cash benefits that workers can use at their discretion to cover non-medical costs associated with an injury, such as child care and transportation. Some workers are cutting costs by canceling supplemental life insurance policies. However, 15% of workers surveyed by ADP found they declined vision or dental insurance to afford medical insurance.