When a StaffMarket member PEO provides a quote for your business there are several methods commonly used. StaffMarket analysts and our member PEOs will be glad to explain in more detail should you have any questions or concerns.
To fully appreciate the value being offered by any PEO quote, it is important to understand your current employment related costs. Every company with employees has obligations for certain employer related taxes and employer administrative activities.
PEO Quotes - Pricing Components
Each PEO quote will typically include a price that covers employer related obligations. This includes taxes for the employer portion of FICA, FUTA and Medicare. These costs are your company’s obligation, whether you engage a PEO or not. For details on employer related statutory costs..click here.
PEOs include the payroll service as part of their standard offering. All PEO quotes include payroll as part of their service offering. For further explanation about Payroll Services..click here.
Services and Benefits you defined on your StaffMarket RFP
Our member PEOs will provide quotes for your company based on your company’s needs and requirements as defined in your StaffMarket Request for Proposals – (RFP).
Virtually every state in the USA (except Texas) requires employers to maintain Workers’ Compensation (Work Comp) coverage for employees. It is a cost of the employer and is illegal to charge employees for the coverage. PEO quotes will include work comp coverage for your employees. For more information about Work Comp..click here.
If your StaffMarket RFP included a request for quotes on Health Insurance coverage for your group, then your PEO quotes will include health insurance coverage rates. Rates will be quoted for employee, employee plus spouse, head of household and family coverage rates. When comparing quotes for health coverage, be sure to consider the type of plan coverage (PPO, HMO, etc.), deductible amounts, and doctor network supported by each plan. Getting a great price for health insurance for your employees is not such a great deal if the insurance carrier has no doctor network in your area.
Requested "A la Carte" HR Services
If you requested particular enhanced services like applicant background checks, these services may be charged on a “per use” basis. Pricing for each use will be included in the quotes.
Packaged Service Levels
In addition to “a la Carte” services some PEOs may offer a “gold”, “silver” or “bronze” level program that includes certain packaged services as part of the price.