Five Benefits Available When You Need Them
  • Industry Trends & Insights

Five Benefits Available When You Need Them

As many know, you have a chance once a year to update your benefits during open enrollment. However, when it comes to whole-life wellness, you have needs beyond just health care that change throughout the year. For example, you could face an unexpected cost or thinking of a home renovation. Or maybe you're looking for ways to protect yourself from identity theft, or facing other threats to your finances that aren’t tied to annual enrollment plans or qualifying events. Lucky for you, employers are expanding their benefits packages to include more options to cover these needs that are available year-round. Here are examples of five types of coverage growing in popularity and companies providing solutions:

Discount Prescription Meds

For anyone looking for discounts on those ever-increasing costs of medicine, an example such as GoodRx, a subscription-based pharmacy discount program that saves members up to 90% on prescription medications. GoodRx Gold memberships are available to BenefitsPlace members at a discounted rate for individual or family membership (which cover up to six family members, including pets). GoodRx members are given access to a mobile app and online portal that can help them track their savings and find participating pharmacies, as well as additional benefits such as discounted online doctor visits.

Low-Cost Medical Financing

The aftermath of medical events can often be overwhelming, in both healing as well as dealing with the onslaught of bills. MedPut is one company that provides low-cost financing for cash-based medical expenses. Employees submit their bills, and MedPut contacts health care providers in attempt to negotiate discounts, and then directly pays the providers on behalf of subscribers. Many different types of health care invoices are covered, and employees simply repay MedPut through payroll deductions. This service is always interest-free and has no impact on credit scores.

Low-Cost Loans

Facing costly debt or unexpected expenses? Kashable, among other lenders, offers socially responsible financing to its users. With Kashable, individuals can access low-cost loans, paid through payroll deductions, eliminating the need to borrow from 401(k)s or accruing further debt. And with low interest rates, it can provide a smarter alternative to even home equity loans. 

Identity Theft 

Identity theft is a growing concern with the digital lives we live today. Luckily, there are companies such as LifeLock offering protection against these threats. Through BenefitsPlace, members can get identity protection services including monitoring technology that scans a trillion data points a day looking for many of the kinds of threats associated with identity theft. LifeLock alerts members to identified threats, and if there’s a problem, will get on the case and work with them to help fix it. 

Delivery Services

Whole-life wellness isn’t just about paying for big, unexpected costs or protecting yourself from online threats – it’s also about easing the strains of everyday life, which is why we value services such as Shipt. This membership-based online marketplace enables same-day delivery of grocery and household essentials. Get the convenience of groceries delivered in as little as one-hour from popular stores, including Target, CVS and more. Delivery is free for all orders over $35 and is available in over 220 cities across the U.S.

Learn more about all of our "anytime" coverage options in our full BenefitsPlace catalog, which includes more than 15 voluntary, year-round opportunities.

The above descriptions are brief summaries of some of the service providers available to employers and employees through BenefitsPlace on the BENEFITFOCUS Platform. Services are governed by the terms and conditions of each service provider, and may vary from provider to provider. Certain products available on the BENEFITFOCUS® Platform through BenefitsPlace™ may be regulated through various state agencies as insurance products. Regulated insurance products are offered only by brokers affiliated with BenefitStore, Inc.  (doing business as 627 Benefits Insurance in California and 627 Insurance Agency in New York), a licensed insurance agency and wholly owned subsidiary of Benefitfocus, or through your or your employer’s appointed broker.