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Improve the scope and quality of your employee benefits plan while controlling costs
Rising costs, plan requirements and administrative burdens mean quality benefits such as health insurance are inaccessible for many businesses. A Professional Employer Organization (PEO) can help lower and control benefit costs for businesses of all sizes.
Providing quality healthcare benefits to employees has become increasingly expensive and in some cases cost prohibitive. A PEO can help lower and control healthcare costs. Because the PEO pools its employees in a single group, it's able to spread medical claims over a larger premium base. This results in a significantly lower annual rate increases, compared to increased endured by small businesses. In addition to cost-effective health plans a PEO can also provide your company with:
- Dental & Vision Insurance
- Flex Spending Accounts and HSAs
- Retirement benefits including 401(k) & IRAs
- Short and Long Term Disability Insurance
- Accidental Death and Dismemberment Insurance
- Cancer Insurance
- Pre-Paid Legal
- Employee Assistance Programs
- Reduces cost of administering employee benefit plans
- Employee Assistance Programs
The PEO also takes care of the time-consuming task of administering your benefits. In additional to proving a variety of benefits a PEO will provide the administration:
- Benefits handbook creation and distribution
- Annual adds/drops and enrollments
- Eligibility tracking
- COBRA compliance and administration
- Plan discrimination testing
- Carrier payments and account audits
- Annual reviews of benefits plan pricing
- 401K administration, company matching and plan testing ( for highly compensated)
- Premium audits for Section 125 (pretax)
- Life Insurance (if offered) plan administration
- Flexible spending accounts (FSA) administration
- Employee assistance plans (EAP) administration
- Short term disability plan administration
- Stability of your premium rate
"What if we want to keep our current health insurance plan?"
No problem. Most PEOs give you the option of keeping your health and or retirement plans in place and they will simply administer payroll deduction and benefits such as Flex Spending Accounts. Simply let us know that type of benefit options you're looking for and we'll provide quotes from PEO's who can help. To find a program that's the best fit with your company's requirements, contact EmployHR.com today or request a free no-obligation quote online.
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