Miami is a city with a lot of competition. If you want to stand out as a small business, you need to have the staff to grow your company and they need to stick around long enough to achieve your business goals. One way to do that is through offering health insurance.
NetPEO partners companies with the perfect PEO for their size, industry, and needs. Partnering with a Miami PEO can be your ticket to getting affordable health insurance for you and your employees. Here’s why.
Why You Need to Offer Health Insurance
When you’re interviewing someone for a position and they ask if you have health insurance, what do you say? If you’re reading this page, you’re probably telling them you don’t carry it yet. This puts you at a competitive disadvantage.
Health insurance is a top priority of any employee seeking stability. It’s no secret that health costs are incredibly expensive. Most people get their coverage through an employer. Therefore, if you don’t have it, you’re at a disadvantage to every other company that offers it.
It’s also a benefit that offers an incredible ROI on investment. The costs of health insurance are more than made up by the increase in productivity and employee morale, and lower employee churn. However, it’s difficult to get quality health insurance as a small business on your own.
Health Insurance and Small Businesses
Health insurance can get expensive for small businesses, especially if your business is in a dangerous industry. Premiums rise if you have fewer employees to pay into your plan or if your payroll is too low to make the insurers happy. Many business owners go without or choose a plan that doesn’t cover much.
This is dangerous for your company. Health insurance is the top benefit sought by employees, even above vacation time. If your health insurance is too expensive or will not cover what your employees need, they will leave to find a company that has better coverage.
The fact is that if you intend to grow your business you need someone to find a health insurance plan that works best for your company. However, don’t fall into the trap of doing it yourself. Insurance is complicated, time consuming, and you may put your company in a poor position. Instead, turn to a PEO to do it for you.
A PEO Gives You Access to Better Benefits
Professional employer organizations partner with companies to provide necessary HR and payroll services, like health insurance management. HR and payroll are vital to the success of a growing company, but they can easily become time sinks if you do them yourself. They could even be dangerous if you make a mistake.
When you partner with a PEO, the PEO can merge all of your employees with all the employees of their other partners to create a single labor pool. They will use this larger pool of employees to negotiate for better rates and better plans for insurers than you could on your own.
Plus, because they handle all the details, you get to free your time from worrying about health insurance for your Miami company and focusing on beating the competition, growing your business, and raising profits.
Workers’ Compensation – Your First Benefit
The first health insurance service most companies need in Miami is workers’ compensation coverage. Workers’ compensation covers the costs and wages of people who get injured on the job, including yourself.
It’s a requirement for nearly every business in Miami as soon as you hire your first employee, and it may be your first exposure to the complexity of insurance coverage and labor regulations. Complying with everything necessary can make your head spin, and you may wonder if you’ve made the right decisions for your company.
Fortunately, you don’t have to do it all on your own. NetPEO’s Florida PEO brokers are ready to help you find a PEO who can help you with your workers’ compensation and health insurance needs at an affordable rate, and without the worry of making a mistake. A PEO can give you peace of mind about your benefits and so much more.
Grow Your Business Through Health Insurance Benefits
Getting health insurance services from a Miami PEO can create ripple effects through your company that will help you grow, including:
- Spending less money finding new employees because they won’t reject you for lacking health insurance.
- Less employee churn from employees leaving you for a company that has insurance.
- Less time wasted training new employees
- Healthier employees are happier and more productive
But this is just the beginning of what a PEO can do for you. Health insurance services are just one facet of what PEOs can offer your company.
What Else Can a PEO Do for My Business?
NetPEO can partner you with a PEO that can help you with tasks like:
- Benefits management and implementation
- Risk and compliance management
- Payroll and tax services
- Hiring and termination
- Policy creation
- Risk management and regulatory compliance
- Handling employee inquiries involving HR and payroll
- Advising you on how to handle employee disputes
- And much more
When you contact NetPEO for a quote, we will discuss your current business needs and your plans for growth in the future. Once we know what you need, we will help you find PEOs that fit those needs, plus make sure they do so over the long-term through regular follow-ups.
Schedule an Appointment with NetPEO
If you’re tired of losing talent to your competitors because you don’t have health insurance at your company, let’s fix that. Contact NetPEO for a consultation and free quote to find PEOs in our nationwide network that will help you get covered.
Find out why our company has such a high customer satisfaction rating compared to other PEO brokers. With one call, you can solve your HR and payroll issues and get back to focusing on growing your profits. Call today to get started.