Getting the most out of your benefits package: What are ancillary benefits?
In addition to traditional health insurance, many employers offer ancillary benefits that can cover other important health and wellness needs at little to no cost to you. These employer-sponsored group policies are typically less expensive than private policies and include a wide variety of coverages that your regular health insurance oftentimes doesn’t reach.
Some of the most common ancillary benefits include:
- Dental – preventative or general care through cleanings and treatment
- Vision – precautionary or general care through exams, eyewear, and treatment
- Life insurance – a set amount of financial support provided to beneficiaries following the death of a loved one
- Accidental death and dismemberment insurance – a designated sum of money given for any accidental death or life-altering injuries like loss of a limb or functionality
- Short/long-term disability – ensures you still have an income while unable to work because of any illness (effective after a week) or injury (effective immediately) dependent on how long you need it
- Accident insurance – additional coverage for a wide range of accidental injury expenses
- Critical illness insurance – additional coverage for serious illnesses, such as cancer, heart attack, stroke, etc.
- Hospital indemnity insurance – coverage to help with costs associated with hospitalization, planned or unplanned, for you and your family
- Retirement plans – in the form of 401(k), IRAs, pensions, etc.
- Pet insurance/wellness – coverage for your pets through preventative care, grooming, or emergency services
To learn more about the ancillary benefits your employer offers, log onto your insurance portal. If you have further questions regarding benefits, please reach out to your Schauer Group representative.
