Experienced employees will demand a strong benefits package from employers before joining your company. You are at a significant disadvantage in getting new talent if you do not have health insurance at your company, but you may not have time to find a good plan at an affordable rate.
NetPEO can help you cut through the red tape by connecting you to a Tampa PEO insurance services. A professional employer organization can cut through insurance red tape, find and manage the perfect insurance plan to meet your budget and needs, and so much more.
Employees Demand Health Insurance
Does having health insurance at your company really translate to a better ROI? The answer is yes, according to the U.S. Chamber of Commerce. A strong benefits package starts with health insurance. According to a study by the chamber, some advantages you can gain by getting health insurance for your company include:
- Lower direct medical costs since workers can afford to treat illnesses before they become worse.
- Less time and money spent on recruitment and retention.
- Greater company loyalty
- Increased worker productivity due to better health and better morale.
According to the study, businesses see at least a 47% increase in ROI when they get health insurance, and that number is expected to rise. Most employees see health insurance as the most important benefit a company can offer, even over retirement, leave, and family care.
In short, having strong health insurance is a net boon to your company’s bottom line and your employee’s health and morale. However, insurers can make it difficult to find an affordable plan if you’re a small business. Here’s how a Tampa PEO broker can help you solve that problem.
How NetPEO Helps with Health Insurance Services
NetPEO connects Tampa businesses to qualified PEOs in their industry. Professional employer organizations help businesses gain access to experts in payroll and HR to handle important administrative tasks, such as health insurance administration.
These tasks are vital for growing businesses but they need expertise. They also eat into the time of owners and hamper your plans for expansion. By turning them over to a PEO, you free up your time and get peace of mind about these important tasks.
When you join with a PEO, our company will monitor the relationship to make sure that you are getting what you expect and that the PEO meets your needs. If it does not, we can help you find a better PEO. This follow-up service is why our PEO brokerage has such a high approval rating from our clients.
PEOs and Co-Employment
PEOs do more than health insurance administration. They also help you gain access to far better benefits for much better rates. The way they do this is through the co-employment relationship, which is how most PEOs work with companies.
A co-employment partnership lets the PEO combine your employees with the employees of other companies for payroll and HR tasks. This lets them approach benefit providers with a larger pool of employees.
This lets the PEO negotiate for far better and cheaper benefits than you could on your own. Insurers will often charge small businesses much more for health insurance because of their size. Working with a PEO bypasses this expensive upcharge by the insurers.
Workers’ Compensation and PEOs
Workers’ compensation is required for nearly every business in Florida, sometimes as soon as you hire your first employee. Workers’ compensation is a form of health insurance that covers injuries that happen on the job.
If you do not have it and you get an injured worker, you could face serious penalties. The state could even hold you personally liable in some cases. Getting workers’ compensation coverage is vital, but administering the policy and choosing the right provider and doctor can be a challenge.
Workers’ compensation administration is a great first step to working with a Tampa PEO with health insurance services. They will find the best policy for your company and help with any claims so you can focus on your core business. As you grow and get ready to offer full health insurance, you’ll have a PEO right there to help you with the process.
How Else Can a PEO Help My Company?
PEOs do much more than offer health insurance services. They offer full HR and payroll services as well. These services include:
- Payroll administration
- Benefits administration
- Policy development
- Employee handbooks
- Employee training
- Recruitment and hiring
- Termination
- Compliance and risk assessment
- Employee payroll and HR portals
- Handling HR complaints
You can turn over these tasks and more to your PEO, or you can piece out the tougher or more tedious tasks out to your PEO and keep other items in-house. You can also have a PEO work with your existing HR or payroll staff to supplement their work at a rate far less than hiring another full-time employee.
Contact NetPEO for Tampa PEO Health Insurance Services
Ready to get health insurance for your company at an affordable rate? Contact NetPEO to get free quotes for PEOs that are perfectly suited for your Tampa business. We’ll sit with you to assess your needs, what your plans for growth are, and how a PEO can help you now and in the future.
To get started, contact us right now at the number on your screen to schedule an appointment, or contact us by email.
