Small Business, Big Ideas
(And a Few Laughs Along the Way)
Your go-to blog for tips, tricks, and the occasional dad joke about running, growing, and loving your small business. Seriously helpful. Seriously fun.
What Happens If I Get a High Benefit Renewal in PEO?
If you are in a Professional Employer Organization (PEO) you likely joined in part or whole because of the PEO’s benefit plans. PEOs are known for giving access to affordable benefits from national carriers like Aetna, Blue Cross Blue Shield, Cigna, and United Healthcare.
PEOs typically have significantly lower yearly benefit renewals for a few reasons, but mostly for their buying power with the carriers. Remember the Law of Large Numbers is always present in any type of insurance, this is no different. The more people on a benefit plan, the less risk, and more leverage for the PEO.
5 Misconceptions of Professional Employer Organizations
Over the last decade, we have just about heard every question known to man about Professional Employer Organizations. So we thought we would put together the top 5 that we hear the most often. Here they are.
Should you be in a Professional Employer Organization?
Did you get a bad renewal this year on your health insurance? Does your workers’ compensation keep increasing? If answered yes to either of these questions, then you should probably look at a Professional Employer Organization. Not sure what a Professional Employer Organization is, that’s ok. By the end of this exactly what a PEO is.
Are you getting hosed by your Professional Employer Organization?
If you are in a Professional Employer Organization, then you already know the upside. What you might not know is if you are getting the best price for your PEO. If you don’t know if you are, then you should read on.
Most people join a Professional Employer Organization and don’t ever think about the fees and costs associated with their PEO billing. Better yet a lot of times, people join a PEO and have no idea what their actual PEO fees are. And in many cases no idea how to figure out their fees.
It's renewal season again. Should you look at a PEO?
It’s that time of the year again when most companies are having their open enrollment. This oftentimes means headaches for HR, Business Owners, and Employees, because of higher premiums, lesser plan options, and lastly all of the administration. There is an easier way to handle your benefits.
PEO Insurance: Better Employee Health Option?
Get most competitive packages through complete information.
The idea of starting and running your own business can be exciting. New innovations and ideas propelling sales and brand recognition are all part of the fun.
But not everything is fun for small business owners. As health insurance laws changed with the Affordable Care Act, many small and midsized business owners found themselves against the financial ropes, fearing closure due to new demands for employee health care.