Tired of losing talent to larger companies because they have health insurance and you don’t? NetPEO can connect you to an Orlando professional employee organization who can help you get affordable health insurance services for small and medium-sized businesses.
Getting affordable insurance as a small company is a challenge because insurers will charge higher premiums to smaller companies. However, by working with a PEO, you can join your staff to an Orlando PEO’s much larger pool of employees and gain massive cost savings and better benefits, and so much more.
Health Insurance Is Good for Business
According to the Society for Human Resource Management, health insurance is the number one benefit employees demand over all others. America has structured its healthcare system to require insurance and most people get it through an employer.
You’re at a massive disadvantage in the race for talent without health insurance. Fortunately, getting health insurance has an excellent ROI. By having it, you can avoid costs like:
- Direct medical costs from workers who don’t see a doctor until their symptoms become too severe to ignore
- Time and money spent on recruitment, which can be significant if you don’t have good benefits.
- Lower employee morale because they cannot afford to go to the doctor
- Lower loyalty to your company
However, we understand insurers make it difficult for small businesses to find the best plan for their company. The insurer’s goal is to make as much money as possible, and they’ll charge you extra because you have fewer employees paying premiums. However, an Orlando PEO broker can help you get around this problem.
Why does Insurance Cost So Much for Small Businesses?
The more your business can contribute in premiums, the lower the cost of premiums per person. Insurers usually charge by how many employees you have paying into the pool and charge cheaper rates if you have many employees.
This means that the cost of health insurance for Orlando small businesses can be much higher than you expect. You might have to compromise on a worse plan to make it affordable, or forego insurance entirely. Many businesses come to NetPEO wondering how they can get cheaper rates.
The good news is that you can get much more affordable insurance through working with a PEO. When you enter a co-employment arrangement with a PEO, your PEO will handle negotiations with the insurers to find you a rate that works well for your company.
Why do Orlando PEOs Command Cheaper Health Insurance Rates?
Co-employment makes your employees part of the PEO on paper, and PEOs have multiple clients. If a PEO works with ten small businesses with five employees each, they can go to an insurer and say they have fifty employees. Most PEOs have much larger pools than that.
By pooling labor together, they can go to the insurer and get far better per-person rates and often far better policies as well. Plus, as your PEO, they will handle all the administration of the plan, from paying the premiums to processing claims by your employees.
Co-employment still leaves you with full control over your employee’s duties and if they work for you. The contract spells out exactly what duties your PEO will take on and which ones you retain, which makes co-employment a very flexible arrangement for companies that need to add more administrative tasks while they grow.
Handling Workers’ Compensation Claims
Depending on your industry, your first insurance may need to be a different kind of health insurance. Workers’ compensation insurance is one of the first benefits that employers must provide in Florida, and an Orlando PEO broker can help you find a company that can provide it.
Instead of navigating the insurance requirements on your own, you can turn it over to an expert. We’ll do more than just find the best plan for you. We’ll also handle claims on your behalf, including any disputes with the workers’ compensation board.
A mistake with workers’ compensation could put your business at serious risk for regulatory fines. You could even face liability claims if you do not have it when you should have. If you’re unsure about how to handle workers’ compensation at your company, call us immediately so you can get compliant!
More than Just Health Insurance
A PEO can help you with more than just health insurance questions. Professional employer organizations help companies with HR and payroll tasks. These are necessary tasks for growing businesses that require expertise. A mistake with these can have negative consequences on your company.
PEOs help business owners reclaim time they’re wasting handling these tasks on their own. An owner might handle all the payroll and HR at a small company. However, as it grows, too much time can be spent on these, taking your time away from profit generating activities.
Some of the many tasks A PEO could help you with include:
- Policy creation
- Payroll questions
- Employee HR and payroll portals
- Benefits administration
- Hiring and recruitment
- Handling claims from employees
- Risk assessment and compliance
- Training employees
Get a Free Quote for Health Insurance Services from an Orlando PEO
If you need someone to administer health insurance services for your Orlando company, it’s time to contact NetPEO for a free quote. Our company links businesses with qualified PEOs across the nation to help them with their HR, benefits, and payroll needs.
Our company has an approval rate of 97% because of our attention to detail in selecting PEOs for companies. We also help companies change PEOs as their needs change or if they are unsatisfied with their performance.
You can choose to have a PEO handle all of your administrative needs, or select just a few tasks. We’ll even work with your current HR and payroll department, so you don’t have to fire anyone. Learn about all the ways we can help you grow your business by calling us now for a free quote and consultation.