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.
How to get great Health Insurance if you are Self-Employed
Having health insurance is imperative. When you are self-employed getting access to affordable health insurance can be impossible. The common theme is that Health Insurance is expensive, but not having Health Insurance is even more costly.
However, you do have options and we will detail all of them for you here. Your three best options are Association Plans, Professional Employer Organizations (PEOs), and Employer of Record (EOR) solutions.
Are you getting the most out of your Professional Employer Organization (PEO)?
Had a call the other day with a CFO and learned that they had been using a Professional Employer Organization (PEO) for almost four years, and had not utilized many of the services the PEO offered.
We see often that companies will join a PEO, but never fully take advantage of the services the PEO offers. So, we thought it would be a great idea to put together a quick list of the services that a lot of companies do not utilize in their PEO.
How a Professional Employer Organization helps you with Workers’ Compensation
Most people know that a Professional Employer Organization (PEO) can help you streamline your payroll, give you access to affordable benefits from national carriers, as well as access to expert HR guidance. But what a lot of people do not know is that a PEO can also help you with your Workers’ Compensation insurance.
Even if you are a white-collar company a PEO can make your Workers’ Compensation a breeze.
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.