Health insurance for your employees at a small business ensures that they’re able to get affordable treatment so they can be successful at work and outside of it. But as a small business owner, it can be difficult to get health insurance and still have the time to focus on your business.
That’s where a Colorado PEO Insurance Services can help you get health insurance services. Our team at NetPEO can help you streamline the process and get your employees covered so you can get back to business.
How Does Health Insurance Through a PEO Work?
When a small business partners with a Colorado PEO, the PEO allows that business to be included in the PEO’s group health insurance plan. A PEO health plan gives small companies and their employees access to the types of affordable health plans normally only available to larger businesses.
The PEO acts as the “employer of record” for extending health benefits to workers at client companies. Employees can take advantage of the PEO’s group rates and plan options while essentially maintaining the same job. Premium costs are shared by both the small business and its employees.
Partnering with a Colorado PEO for health insurance allows small businesses to provide competitive benefits that are typically out of reach for most smaller companies. It’s a simplified way for you to offer quality coverage to your valued employees.
What Tasks Does a Colorado PEO Handle for Health Insurance Services?
When small businesses use PEOs for employee health insurance, the PEO takes care of many of the administrative tasks involved. This allows you to focus on your core operations without having to manage benefits directly.
Some of the key tasks NetPEO handles include:
- Researching and selecting health insurance plans that meet the needs of client’s employees
- Enrolling employees and submitting enrollment paperwork to insurance carriers
- Deducting premium costs from payrolls and paying the full premium amounts to insurers
- Acting as the primary point of contact for employees and providers regarding claims, coverage, and benefits questions
- Complying with all applicable regulations under the Affordable Care Act
- Providing carriers with eligibility information and managing ongoing requirements
- Updating plans and offerings as needed during open enrollment periods
By taking on responsibilities such as premium billing, record-keeping, and regulatory compliance, we make sure small businesses have seamless and hassle-free health insurance for their valued employees. This allows you to focus on their core business without the administrative burden.
What Types of Health Insurance Can Your Employees Get Through a PEO?
When partnering with a Colorado PEO, small businesses have access to a wide variety of quality health insurance plan types for their employees. This provides flexibility and options to meet different needs.
Common plan types available through a PEO include:
- Preferred provider organization (PPO) plans: These offer a network of in- and out-of-network healthcare providers to balance costs and flexibility.
- Health maintenance organization (HMO) plans: A primary care physician provides care and coordinates to control costs.
- High-deductible health plans (HDHP) paired with a health savings account (HSA): These lower-premium plans are popular for healthy individuals ready to pay deductibles upfront.
- Dental and vision plans: Routine care beyond medical to support overall well-being.
- Life and disability insurance: Life and disability insurance plans provide additional protection for employees in case of unexpected serious illnesses, injuries, or events that result in long-term disability or even loss of life.
With numerous carriers and plan designs to select from, our team ensures small businesses can meet the diverse needs of their employees through quality, affordable, and comprehensive insurance options.
How Do Employees Access and Use Their Health Insurance?
Once enrolled in a health insurance plan provided through the PEO, employees will receive their member ID cards and information to start using their benefits. Employees will need to choose providers within their plan’s network in order to be covered at the highest level of benefits. For non-emergency services, they will schedule appointments with a primary care provider (PCP), who can treat or refer to specialists if needed.
Prescriptions can be filled at retail pharmacies by presenting the pharmacy benefits ID card. If employees need to see a specialist, receive non-urgent care, or have a procedure done, they may need to get a referral first from a PCP. In emergencies, they should seek care at the closest emergency care facility.
It’s important to tell your employees that they should not pay any claim forms or invoices directly to providers. The health insurance plan will process payments behind the scenes. Additionally, they can access details about your benefits, check the status of claims, and utilize other plan tools and resources by registering an online account on the health insurer’s website or mobile app.
What Else Can a Colorado PEO Do for Your Small Business?
While providing cost-effective health insurance is a core service, Colorado PEOs offer much more comprehensive employee management solutions for small companies. Partnering with a PEO consolidates many back-office functions and liabilities under one provider. In addition to health benefits, a Colorado PEO can assist with:
- Employee benefits services: Researching, designing, and administering retirement plans, leave policies, wellness programs, and other compensation offerings.
- Employer liability management: Handling HR compliance, regulations, and paperwork associated with hiring/firing, workplace safety, discrimination policies, and more.
- Employee training and development: Organizing lessons, seminars, and resources to help workers improve skills and advance careers.
- Workers’ compensation: Securing policies, processing claims, and record-keeping to cover on-the-job injuries.
- Payroll processing: Preparing paychecks while withholding and depositing all applicable taxes.
By outsourcing many HR administration tasks, you gain the support of dedicated experts so they can focus on business objectives instead of worrying about compliance issues. Colorado PEOs act as true strategic partners committed to business growth.
Contact Us for Colorado PEO Health Insurance Services
At NetPEO, our team can help you and your employees find health insurance that meets your needs and allows your business to thrive while your employees are protected. When you work with us, your employees will have access to health insurance and several other benefits.
Contact us to obtain Colorado PEO health insurance services for your small business.