If you run a growing business, you know that there’s a lot of administrative duties that you’ve got to stay on top of to keep your business running. Trying to navigate the health insurance market can be exhausting and time-consuming. This is especially true since the Affordable Care Act has changed the health insurance marketplace so drastically.
Joining with a professional employer organization (PEO) is one way to simplify the process of finding a health plan for your business. However, different PEOs offer different options for you and your employees. That means finding the right PEO could replace the search for the right health plan.
If you’d like help finding a PEO that offers the sorts of health plans that are right for your business, contact NetPEO today. As a PEO broker, we’re here to help you find the right PEO for your business needs. Even if you’ve had bad luck with a PEO in the past, NetPEO is dedicated to making sure that you’re completely satisfied with your next PEO partner.
Understanding the Role of a PEO
PEOs are companies that small and mid-sized businesses partner with in order to outsource HR functions. Rather than tackling payroll, benefits administration, and legal compliance issues by yourself, you can outsource these tasks to a PEO. How much you outsource is dependent on what the needs are for your company and what services the PEO offer.
When you partner with a PEO, you sign a co-employment agreement with the company. What this does is it makes the PEO the employer of record for your employees. This affects the name of the company on your employees’ paychecks and their tax records. It does not mean that you lose any control over how you run your own business.
PEO Health Plan
After you’ve signed your co-employment agreement, your employees will get access to the same health plan offered to all the businesses that have signed co-employment agreements with the PEO. This means that your employees can have access to health plans that are usually too costly for most small or mid-sized businesses to offer. Because there is a larger pool of employees to absorb the risk of any one employee getting sick, insurance companies can offer their higher-tier plans at competitive prices.
However, what health plans are available to your employees is left up to the PEO you join. Depending on the size of the PEO and the choices they make, you may not be completely satisfied with the health plan options that are available.
The Importance of Finding the Right PEO
Keeping your employees happy is an important step in reducing turnover, as job satisfaction affects whether your employees stay with you or leave to find a different employer. If you join a PEO that offers a health plan that doesn’t fit well with your employees’ needs, you may find yourself looking for new workers.
Finding the right PEO can be harrowing. According to NAPEO, you have nearly 1,000 choices when it comes to potential PEO partners. Making sure that you find the one that offers the right services for your business, including a health plan that fits your needs, can end up consuming a significant amount of your time.
NetPEO is here to simplify the process of finding a PEO partner for your growing company. Rather than offering a single solution, our PEO brokers work with you to understand the unique needs and challenges of your business. Based on what you tell us, we find you a selection of PEOs from our trusted network of partners.
We also understand that your needs evolve over time and that sometimes business relationships don’t work out. That’s why we regularly follow up with you to make sure that your PEO partnership is meeting and exceeding your expectations. If you’re not completely satisfied with your current PEO, we’re here to help you find one that is a better fit for your current needs.
Have NetPEO Help You Find the Right Health Plan
If you need to get access to a better health plan through a PEO, call us at (678) 376-1212 or send us a message using the form on this website. We’ll speak with you about your health plan needs, as well as any additional HR issues that you might want help addressing.
Concerned about pricing? NetPEO is completely free to business owners looking to find a PEO partner. You’ve got nothing to lose and could gain a better health plan for you and your employees. So, call today!