What best describes voluntary employer-sponsored plans?

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Voluntary employer-sponsored plans are indeed best described as optional plans that employees must pay for out of their own pockets. This type of insurance allows employees to choose whether they want to enroll in these plans, which are typically offered alongside other employer-sponsored benefits. The key characteristic is that while the employer facilitates the offering of these plans, the financial responsibility for premium payments primarily falls on the employees.

These plans are designed to enhance the standard benefits package and provide additional coverage options that employees might find beneficial, such as supplemental life insurance, disability insurance, or critical illness insurance. The voluntary nature signifies that participation is not required, differentiating these plans from mandatory employer-sponsored benefits.

In contrast, the other options describe arrangements that are either fully funded by the employer or legally required, which do not accurately capture the essence of voluntary employer-sponsored plans.

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