Small Business Health Insurance with a PEO
( Professional Employer Organizations)
1 in every 7 small businesses with 6 to 99 employees have saved 15% to 40% off their current small business health insurance plan with an equivalent PEO health insurance plan.
A professional employer organization (PEO) provides comprehensive HR solutions for small and mid-size businesses. Payroll, benefits, HR, tax administration, and regulatory compliance assistance are some of the many services PEOs provide to growing businesses across the country. Small businesses that work with a PEO grow 7 to 9 percent faster, have employee turnover that is 10 to 14 percent lower, and are 50 percent less likely to go out of business.
Professional Employer Organizations ( PEO ) can save your business thousands of dollars per year in employee benefit costs. There are several money saving advantages to using a PEO to help manage your companies human resources.
Contact us for information and quotes for many of the best PEO's.
Businesses with some or all of the following attributes can save 15% to 40% off of their current health insurance premiums with an equivalent PEO health plan.
1. Your business is a white collar business( finance, tech, legal, medical, engineering, etc.. ) .
2. You employee 10 to 99 ( in some cases more ) full time employees.
3. Most of your employees are under 40 years old( the younger the better ).
4. Most of your employees are enrolled in the company health plan.
5. Many of your employee's dependents are enrolled in the company health plan.
The more of these attributes describe your business, the greater your health insurance savings will be with an equivalent PEO health plan.
Here are additional benefits of working with a PEO.
1. PEO's will keep your business in compliance - this can save your business thousands or tens of thousands in government penalties.
2. PEO's will process your payroll - this eliminates your current payroll company expense.
3. PEO's will provide Human Resources expertise: How to discipline you employees, how to design a benefits package, COBRA administration etc..
4. PEO's may be able to reduce your workers Comp costs.
5. PEO's offer many large employer benefits to small businesses including: 401k, health insurance, dental insurance , vision insurance, FSA plans and more.
6. PEO's will offer consolidated health insurance rates for all of your employees, no longer will the cost be by age or the amount of children enrolled.
7. PEO's offer national coverage and benefits. Small businesses won't have to struggle for multi state plans for your employees.
Contact us today for your free no obligation quote.
We will provide you with several quotes from many of the top PEO's in the country, so that you get the best possible fit. To get a free no obligation quote contact us today, call 631-963-6020 or write to Cliff@nysmallgroupplans.com
Here is some additional features of the PEO relationship:
A professional employer organization (PEO) is an outsourcing firm which provides services to small and medium sized businesses (SMBs). Typically, the PEO offering may include human resource consulting, safety and risk mitigation services, payroll processing, employer payroll tax filing, workers' compensation insurance, health benefits, employers' practice and liability insurance (EPLI), retirement vehicles (401(k)), regulatory compliance assistance, workforce management technology, and training and development. The PEO enters into a contractual co-employment agreement with its clientele. Through co-employment, the PEO becomes the employer of record for tax purposes through filing payroll taxes under its own tax identification numbers.
As of 2017, industry gross revenues were estimated to be over $174bn annually. In 2017, there were 907 PEOs operating in the United States, servicing 3.7mm worksite employees (WSEs), which were spread over approximately 175,000 PEO clients.
We broker for:
1. Infiniti HR ( CIGNA ) 1 or more
2 . Insperity ( UHC ) 3 employees or more
3. Trinet ( Aetna, Empire or UHC ) 5 employees or more .( minimum 50% of full time employees participate in health plan.)
4. JustWorks ( Aetna ) 6 employees or more (minimum 2 or more employees enrolled in health plan)
5. Prestige ( Oxford or Emblem ) 6 employees or more
6. ADP Total Source ( Oxford or Anthem ) 5 employees or more( some industries 2 or more )
7.. Ethan Allen Workforce Solutions ( MVP ) 5 employees or more enrolled in MVP ( Mid Hudson valley )
8. CoAdvantage ( Aetna ) 11 employees or more 50% enrolled in the health plan
9. Vensure ( Anthem Blue Cross ) 10 employees minimum 7 or more enrolled in health plan.
10. Engage (Aetna ) 10 employees minimum 7 or more enrolled in health plan and 55% participation.
11. Emplova ( cigna ) 10 employees or more enrolled in health plan.
12. Extensis ( Aetna ) 10 employees or more enrolled in health plan and a minimum of 50% of full time employees participate in health plan.
13. Healthpass Decision HR ( Empire Blue Cross )
And others. Contact us today to see how a PEO can benefit your business.