Legal Insurance Industry Trends

Why Your Company Should Invest Tax Reform Savings into an Employer-Paid Legal Plan

  • 3 Minute Read
  • Shares

With the corporate tax rate decreasing to 21 percent, many employers are looking at how they can re-invest the “extra” 14 percent back in their company and employees. The initial announcement of the change prompted several corporations to give one-time bonuses, while some increased minimum-wage or salaries.

Savvy employers, though, are using the money to enhance their benefits package with offerings that will improve employee engagement and productivity — an investment that can come back to the company tenfold.

Since the tax cut was announced, we’ve received inquiries and proposals from employers interested in taking advantage of the additional money to implement an employer-paid legal insurance plan. Many of these employers already offer a legal plan as a voluntary, employee-paid benefit and know that it increases employee productivity because it decreases employee stress surrounding how to pay for and deal with legal issues.

For approximately $5 a month, an employer-paid legal life assistance plan provides employees a suite of services to help them navigate the complexities of life’s legal matters.

An ARAG® plan provides access to our attorney network, educational resources, DIY documents, plus identity theft protection, financial counseling, tax help and caregiving support.

Using these services can add up to thousands of dollars in savings per employee. You can also give employees the option to pay a discounted premium every month to upgrade to a more comprehensive plan that covers more legal matters and includes in-office attorney services.

We know employers care about their employees and want to help them navigate the natural complexities of life. Investing in an employer-paid legal plan will show your employees they’re a top priority to your company by providing them ongoing value. In addition, your company will experience the benefits of:

Recruiting and retaining talent.

Improving employee work-life balance by decreasing stress.

Increasing employee productivity.

Reducing employee absenteeism.

If you’re looking to enhance your offerings this year because of the tax cuts, consider a benefit that’s not just an investment in your employees’ overall well-being, engagement and productivity but also an investment in a brighter future for your company. Contact one of our sales directors to learn more about why ARAG legal insurance is the right choice.

Photo of Dennis Healy

Dennis Healy

Dennis Healy leads ARAG® in building a strong and diversified distribution system. He has more than 25 years of insurance industry experience, with a primary focus in the sale of group voluntary benefit products to employer groups of all sizes through brokers, consultants, and employee benefit exchanges. In addition, he is responsible for growing ARAG’s recently launched individual insurance products through third party distribution partnerships. He has been published frequently in trade publications and is a featured speaker at industry conferences and seminars.

Resources

White Paper

Download ARAG’s new white paper and see how legal and financial stress impacts employee wellness.

All Topics

View a list of all our legal topics.

Legal Glossary

Find definitions of legal terms.

Product Updates

Sign up to get the latest ARAG coverage and service announcements delivered straight to your inbox.