Human resource outsourcing can help you save time and money, two of your company’s most valuable resources. Having a PEO handle your company’s insurance administration not only simplifies things for you but also provides your staff with affordable health insurance and other perks.
Professional employer organizations (PEOs) provide HR services while also acting as co-employers, which can simplify administration and reduce costs. Your employees will be listed on the PEO’s records for accounting and regulatory purposes, but you will retain management rights.
A New Jersey PEO provides human resources solutions, including streamlined management of critical employer hazards and HR responsibilities. A PEO insurance service in New Jersey that is part of the NetPEO network can be the ultimate solution for managing benefits admin duties while providing excellent benefits packages and fostering strong connections with your staff.
What PEO Insurance Services Are
NetPEO offers a wide range of insurance services to small businesses, including:
Group Health Insurance
Group health insurance is an important part of any business’s benefits package, and our PEO insurance service for New Jersey can help employers in Garden State find the right plan for their employees. Group health insurance plans provide coverage for medical expenses, including doctor visits, hospital stays, and prescription drugs.
New Jersey PEO insurance services provide multiple dental insurance plans to employers and employees as part of a comprehensive health plan. Employers have the opportunity to choose from a selection of plans that include coverage for preventive care, basic services, major services, orthodontia, and more.
New Jersey PEO insurance services have an array of vision insurance plans tailored to employers’ requirements and their employees’ needs. These plans may provide coverage for eye examinations, eyewear, contact lenses, and other ophthalmic services.
Offering extensive retirement insurance benefits is one of the best ways to retain high-quality employees and attract top talent in your industry. Fortunately, when you connect with NetPEO, we can ensure these retirement insurance benefits costs are reasonable for your team members. Some of the most valuable retirement plan solutions that you can choose for your employees as part of your benefits packages include:
- Simple IRAs
- 457 profit sharing
- Group retirement long-term care
- Simple 401(k)s
- Group 401(k)s
Workers Compensation Insurance Protection
According to New Jersey laws, nearly every type of employer is required to offer their employees workers’ compensation insurance protection. Here, your company will purchase workers comp insurance coverage and protect your employees whether they are part-time, seasonal, temporary, or full-time.
Then, if your employees are injured in an on-the-job accident, they can file a claim with the workers’ compensation insurance provider and obtain specific workers comp benefits, including:
- Wage replacement benefits
- Vocational rehabilitation benefits
- Coverage of medical bills
- Death benefits, where applicable
Your PEO will not only help you select the right workers’ comp insurance provider to meet your needs, but they will also act as your human resources department. When your employees need to file claims, your PEO will be there to answer any of their questions or concerns, guide them through the claims process, and handle instances where workers may be disqualified from workers’ comp benefits.
Life insurance is an important part of any financial plan, and New Jersey PEO insurance services can help you find the right policy for your needs.
Life insurance provides a death benefit to your beneficiaries in the event of your passing, helping to ensure that they are taken care of financially. With New Jersey PEO insurance services, you can choose from a variety of life insurance policies, including term life.
Disability insurance is an important form of protection for workers in New Jersey. It provides financial support to individuals who are unable to work due to a disability or illness. Disability insurance can be purchased through a professional employer organization in New Jersey, which can help employers provide their employees with the coverage they need.
PEOs may also offer additional insurance services, including liability insurance, which can protect you from claims of negligence or other legal issues. Some PEOs also offer employee assistance programs (EAPs), which can provide counseling, legal and financial advice, and other services to employees and their families. NetPEO can help you find the best PEO insurance services for your New Jersey employees.
The Benefits of Using PEO Insurance Services for Your Company
There are several benefits of using a PEO for your insurance needs:
- Cost savings: PEOs can often negotiate lower rates on insurance plans for small businesses, which can result in significant cost savings for the company.
- Access to a wider range of insurance options: PEOs can provide small businesses with access to a wider range of insurance options than they might be able to find on their own.
- Improved compliance: PEOs can help small businesses comply with state and federal regulations related to insurance, which can reduce the risk of legal issues and fines.
- Better employee benefits: PEOs can provide small businesses with access to better employee benefits than they might be able to afford on their own, which can help attract and retain talented employees.
- Reduced administrative burdens: PEOs can take over the administrative tasks associated with managing insurance plans, freeing business owners to focus on other aspects of their business.
- Better risk management: PEOs can provide small businesses with risk management services, such as safety training and loss control, which can help reduce the cost of accidents and injuries in the workplace.
- Greater flexibility: PEOs can provide small businesses with the flexibility to scale their insurance services up or down as needed, depending on the size and needs of the company.
- Reduce Your Administrative Duties: Additionally, PEO insurance services can help small businesses navigate the complex process of selecting, enrolling, and managing the ongoing administration of plans.
How to Get Started with PEO Insurance Services for My New Jersey Business
To find the ideal PEO insurance services in New Jersey, NetPEO conducts a needs assessment with the client organization to determine their specific human resources needs.
Based on this evaluation, we either provide our own PEO services if we are the best fit or connect you with a suitable provider from our network. We also provide ongoing support and advice for as long as the partnership lasts.
This includes helping with service and co-employment agreements and making sure the transition goes smoothly.
Other Services You Can Get from a PEO
Small and medium-sized business entities can get a variety of HR and administrative services from a professional employer organization. With the help of a PEO, businesses can outsource HR responsibilities and redirect their attention and resources toward expanding their business.
Some of the services that a PEO might offer are:
- Employee handbooks and policies
- Employee recruitment and selection
- Employee benefit plans
- Payroll services, payroll taxes, and associated payroll solutions
- Compliance with state and federal employment law
PEOs may also offer services like safety and risk management, employee relations, and employee performance management. These services can help a business reduce the amount of paperwork and risks that come with managing human resources.
Contact a New Jersey PEO Insurance Service to Find Out More
NetPEO serves as a broker by scouring the market and comparing dozens of PEOs to get you the best provider and terms. Having numerous vendors compete for your business will result in significantly lower prices for you.
Together, we can develop a strategy that meets your needs and stays within your company’s budget. If you have any questions or concerns about PEO, the services we provide, or the procedure as a whole, please do not hesitate to reach out. Contact us today to learn more.