Are you interested in learning about the benefits of Illinois PEO insurance services? These services can offer your employees competitive benefits while keeping costs low for your company.
Our team at NetPEO offers insurance benefits services for companies throughout Illinois. We can help if you have a small, medium, or even large business looking for insurance solutions. We use our decades of industry experience to help you through the process.
Find out more about how we can assist you and the services we offer by calling us or completing our online contact form for a free quote.
What Is an Illinois PEO Insurance Company?
Illinois PEO insurance companies provide businesses with access to insurance coverage they might otherwise struggle to secure. PEO stands for Professional Employer Organization, and these businesses operate nationwide.
In many cases, PEOs offer their services to small businesses. The Small Business Administration (SBA) reported over 1.2 million such companies in Illinois. However, our state also has many medium and large businesses that can benefit from PEO insurance.
PEOs may also provide other services for businesses. For example, your PEO may handle your human resources (HR) needs, providing additional assistance to your growing company and your employees.
What Insurance Services Does an Illinois PEO Offer?
Illinois PEO insurance services can help you provide your employees with a better benefits package. In addition, substantial insurance benefits often allow businesses to attract and keep talent that strengthens their company.
Working with a PEO firm in Illinois gives you access to health, dental, and vision insurance benefits for your employees. In addition, the PEO can help you access policies you may otherwise not qualify for and administers the benefits on your behalf.
In addition to handling insurance services on your behalf, many PEOs also provide human resources (HR) services, further strengthening your company.
Are Illinois PEO Insurance Services Legitimate?
All PEOs operating in Illinois must register with the Department of Insurance before they provide self-insurance or workers’ compensation insurance. In addition, companies must fill out specific forms to adhere to the state’s regulations on PEO firms.
Additionally, PEO companies must apply for a specialized Certificate before they operate, demonstrating their legitimacy in the state. If you have other questions about how we work within the legal codes in Illinois, you can reach out to us.
What Benefits Can You Offer Employees with a PEO Insurance Firm?
PEOs provide a full range of insurance benefits to businesses in Illinois. For example, you may provide your employees access to plans to cover their health, vision, and dental expenses. Sometimes, the PEO offers multiple plans for you to review.
In addition to offering insurance services, an Illinois PEO firm can provide the following:
- Retirement and 401(k) support
- Education (or tuition) reimbursement
- Assistance with adoption
- Access to wellness incentive programs
- Job counseling
The options available to your business may vary. You do not have to select all available benefits, allowing you to pick and choose what you want to offer your employees.
How Do Illinois PEOs Provide Insurance Options?
You can take advantage of Illinois PEO insurance services through a process called co-employment. Through co-employment, the PEO firm serves as your employees’ employer of record in some ways.
Co-employment does not take away your control of the company. You maintain full decision-making power and continue to lead your firm. For example, you instruct your employees and make all decisions regarding hiring and firing.
The PEO firm only assists with managing benefits and your HR needs.
What Are the Benefits of PEO Insurance Services?
Working with a PEO firm in Illinois provides you with numerous benefits. Allow us to help you:
Attract the Employees You Want
Employers in today’s job market look for companies that provide solid insurance. Many smaller and medium-sized businesses struggle to compete with larger corporations in this regard, losing potential employees.
Working with a PEO allows you to compete on a higher level, attracting employees with the skills and drive you want.
Save Time on Benefits
Insurance benefits administration can take a lot of time out of your day. Fortunately, you do not have to try to juggle these duties on your own when you hire us to handle Illinois PEO insurance services.
We free up your time, so you can focus on other aspects of running your business.
Reduce Your Overall Expenses
Handling the total costs of insurance benefits on your own can strain any business’s finances. PEO insurance service firms help you get benefits at cost-efficient rates, allowing you to save money.
If you choose to use the PEO firm for your HR needs, you can also avoid the costs of maintaining an in-house HR department.
Stay Compliant with All Insurance Regulations
Complying with local, state, and federal benefits regulations can help you avoid fines and other penalties. In addition, PEO firms stay updated about all rules and ensure you comply with them to avoid headaches down the road.
How Much Do PEO Insurance Firms Charge?
The fees for handling your Illinois PEO insurance services vary based on the benefits you select for your business. We have various plans designed to meet the needs of different companies throughout Illinois.
The costs may also vary if you take advantage of our HR services.
Contact Us to Get Help with Insurance Services in Illinois
Are you ready to learn more about Illinois PEO insurance services from a firm with decades of combined experience and the confidence to handle your unique needs? If so, contact NetPEO to discuss how we can help your business.
Get a free quote by calling us or completing our online contact form.