What is a PEO?
PEO stands for professional employer organization. Offering businesses an outsourced option for administrative tasks, PEOs allow employers to divide and conquer their responsibilities. When a business enters a partnership with a PEO, they establish a co-employment agreement. While you (the employer) maintain your organization’s day-to-day operations and company decision-making, your PEO acts as the professional employer of your workforce, handling tasks like payroll, employment benefits, risk management, and more.
What Services does a PEO Provide?
A PEO oversees a business’ administrative HR tasks and compliance requirements, which frees up time and headspace for an employer to focus on other critical responsibilities. Below, we have compiled a comprehensive list of some of the services a PEO can provide.
- Payroll
- Employee handbooks
- Employee investigations
- Benefits administration
- Compliance
- Employee onboarding and training
- Organizational philosophy
How does a PEO Help with Group Health Insurance?
By partnering with a PEO, you can say goodbye to your health insurance worries and woes for good! Not only will a PEO help your source the best plan for your business, but it will also help you plan for what comes next. Read below to learn how PEOs help small businesses manage group health insurance.
More Options
Working with a PEO allows you to access a wider variety of health insurance
carriers at a lower cost. Under a co-employment agreement, the combination of your
worksite employers and the PEO’s co-employees can make you eligible for health
coverage typically intended for larger organizations. Not to mention, PEOs also have
access to more product offerings and can find your plans at cheaper rates.
Easier Plan Management
PEOs make managing health insurance a whole lot easier. After you’ve chosen a
healthcare plan, your PEO will take everything from there. From renewals and open enrollment to employee education and onboarding, a PEO will ensure there are no unforeseen surprises regarding your employee healthcare.
Satisfied Employees
At the end of the day, group health insurance is about keeping your employees happy
and healthy. Teaming up with a reliable PEO is a smart investment for your business, as
this will improve your employee retention and make your team feel valued.
At MonsterQuoter, we simplify group health insurance for small businesses. You’ll find the best plans in minutes when you use our tools to shop for your employee medical coverage! If you’re ready to start investing in your team, connect with our strategists to shop for renewal quotes, PEO quotes, and more today!
