A Professional Employer Organization (PEO) can offer your company access to competitively priced employee benefit plans. By pooling many small groups together, PEOs can obtain superior pricing from insurance carriers and can pass that savings to your company. By becoming the client of a PEO, your company has instant access to a broad range of benefits that are time consuming and expensive to establish individually. Finding a PEO with the best employee benefits for your company can be a challenge.
Some PEO companies can offer access to a HMO (Health Maintenance Organization) plan while others can offer access to a PPO (Preferred Provider Organization) plan. Many can offer both and can also offer a range of plan options with differing co-pays and deductibles. Besides assisting with getting coverage in place, PEO companies will assist with ongoing administration for plan enrollment, terminations and premium remittance. PEOs may offer access to a Group Health Plan while others may offer Individual Health Plans that are tailored specifically for your company. Each option has advantages and disadvantages depending on the makeup of your workforce. StaffMarket and our member PEOs can help navigate the options.
Some PEO companies have plans and network providers that are available on a national level, while other PEOs have plans available only in certain states or even metro areas. If your company has employees throughout the US or even internationally, a PEO with access to a national plan may offer the best option. However if your employees are largely concentrated in a particular state or metro area, a strong in-state plan may offer the best pricing and network for your workforce. StaffMarket and our member PEOs can help navigate the options.
Many PEO companies offer easy access to a range of employee benefits for 401K plans, Dental plans, Accidental Death and Dismemberment (AD&D), Flexible Spending Accounts, Health Savings Accounts, Long Term Disability, Short Term Disability, Term Life and Vision plans. At StaffMarket we have profiled the offerings of each PEO on a state-by-state basis. StaffMarket can help you target the PEO companies offering the supplemental benefits important to your company.