Employee
Benefits with a PEO
One of the main employee benefits
of working with a PEO, a Professional
Employer Organization can get your business
access to reasonably priced employee benefits
and insurance. By combining several smaller
groups, a PEO can find better pricing from
insurance carriers and then pass that savings
to you, giving your employees the benefits
of large companies without actually being
a large company. By working with a PEO, your
company has access to a many types of benefits
that can be time consuming and expensive to
establish on your own.
Types of Employee Benefits
and Insurance
Some PEO companies give you
access to an HMO (Health Maintenance Organization)
insurance plan while others offer a PPO (Preferred
Provider Organization) insurance plan. Many
offer both, as well as a variety of insurance
plan alternatives with different co-pays,
features and deductibles. Aside from helping
you set up coverage, PEO
organizations will help administration
for plan enrollment, terminations and premium
payment. PEOs may offer a Group Health Plan
while others may have Individual Health Plans
that can be custom designed for your industry
and business. Every option has advantages
and disadvantages depending on the type of
workers you have. Your PEO or employee
leasing company will help you decide what
is best for you, your business and your employees.
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