MetLife has introduced the Benefits Bundle for Small Business, a combination of employer-paid coverage and voluntary benefits.
The package is aimed at making it easier for small businesses to offer popular benefits with flexible pricing, MetLife, New York, says.
Employers choose to provide a certain level of core benefits–life insurance, long term disability income insurance or dental benefits–by selecting at least 2 out of 3 coverages for their eligible employees. Employees are able to buy up added coverage with no minimum participation requirements for other selected products at group rates through payroll deduction.
The Bundle also includes such features as will preparation, an employee assistance program and travel assistance with identity-theft protection.
To make it easier for employers to budget for benefits, the package offers 3-year rate guarantees for life and disability insurance coverage and annual rate caps on dental coverage, MetLife says.
Beginning March 1, MetLife is making the Bundle available initially to businesses with 10 to 99 employees in the Atlanta, Chicago, Dallas, Portland and Seattle markets.