Finding affordable, quality benefits for employees is one of the biggest challenges facing Denver businesses today. The rising costs of health insurance, retirement plans, and other perks put strain on finances and make attracting talent more difficult.
Partnering with a Denver PEO Company provides you with solutions that ease these stresses. With group purchasing power, our reliable PEO partners deliver comprehensive benefits packages normally out of reach.
From healthcare to retirement plans, learn how partnering with a PEO allows you to focus on core functions, not administrative minutiae. Contact NetPEO today for a consultation on optimized benefit services tailored to your unique needs.
Why Employee Benefits Are So Important for Small Businesses
Attracting and retaining top talent is vital for any organization, but especially for small businesses competing against larger companies for skilled workers. A robust benefits package can give a major competitive edge in recruiting and keeping star employees.
Providing quality healthcare, retirement savings options, and other benefits communicates your company’s investment in the long-term financial security and quality of life of your employees. This powerful appeal helps level the playing field against competing job offers.
A good PEO company helps you retain staff by boosting morale and engagement. People are much less likely to seek other jobs when confident their needs and those of their families are being met. Stable retention means avoiding expensive turnover costs.
Expert PEO Guidance on All Employee Perks
Staying educated on the ins and outs of every benefits program can feel like a full-time job. Between changing regulations, plan optimizations, open enrollment periods, and more, it’s nearly impossible for a small business to stay on top of it all alone.
PEOs employ dedicated benefits specialists to advise clients and keep them compliant with regulations. They provide education on all offerings and assist with strategy decisions – whether maximizing the value of your health plan or determining the right voluntary benefits to subsidize.
Rather than spending time researching unending regulatory changes alone, our PEO companies act as sophisticated allies. You gain their comprehensive understanding so your business faces no compliance risk or knowledge gaps about employee benefits.
Outsourced Benefits Administration and Compliance
Administering employee benefits requires immense attention to detail and regulatory expertise to avoid missteps. The ongoing tasks are never-ending. Handling benefits administration yourself often risks errors that could lead to costly fines or penalties.
A Denver PEO that offers employee benefits services keeps these responsibilities off your plate. They expertly handle enrollments, process claims, and manage day-to-day requests from employees so you never have to. Compliance and service are their priorities.
By freeing you from these backend tasks, your business avoids administrative burdens that could threaten your business if done incorrectly while offering benefits packages that would be too expensive to offer on your own.
Access Group Insurance Rates and Savings
One of the greatest benefits of partnering with a PEO is gaining access to affordable group health insurance. By combining clients into large risk pools, PEOs can negotiate favorable rates directly with insurance carriers.
As a result, small businesses that partner with a PEO can offer employees medical, dental, and vision coverage at rates far below individual policies. These substantial group insurance discounts are available regardless of company size or claims history.
Our PEO insurance specialists monitor the market and can help you change carriers if better options emerge. Whether insuring five employees or 50, a PEO partnership can bring your company affordable coverage.
Simplified Retirement Savings Plans for All Budgets
Establishing a retirement plan is crucial to attracting and retaining talent over the long run. However, finding an affordable solution suited to your Denver business and staff size can seem impossible. A Denver PEO eases these challenges for you.
PEO partnerships can offer streamlined 401(k) and pension options previously accessible only to large corporations. Plans are pre-structured with minimal fees to simplify setup and ongoing maintenance regardless of company size.
PEOs can also help you save money on required plan audits. They may also supply financial wellness resources and one-on-one consultations to help employees get the most from your company offerings.
COBRA Administration Hassle-Free
COBRA legislation protects workers’ healthcare access after job changes, but complying with rules surrounding continuation coverage creates significant administrative burdens. Mistakes in COBRA administration can result in expensive penalties.
Outsourcing this function to a Denver PEO can keep you compliant. Should an employee lose coverage due to termination, reduced hours, or other qualifying events, the PEO receives immediate notification.
By turning your COBRA administration over to an expert, your organization avoids mistakes and potential regulatory fines.
FSA and HSA Accounts Made Easy
Flexible spending accounts (FSA) and health savings accounts (HSA) are flexible plans for saving pre-tax funds for medical expenses. However, the complex rules governing qualified uses and carryover periods make independent administration incredibly nuanced.
This is where teaming with a PEO like NetPEO’s partners adds tremendous convenience. They can establish and maintain both FSA and HSA accounts seamlessly and empower employees to maximize pre-tax benefits through our Denver PEOs’ hassle-free FSA and HSA programs.
Connect With a Denver PEO Offering Employee Benefits Services
Providing your Denver employees with top-tier benefits is essential for attracting and retaining talent, but handling administration alone as a small business places a heavy load. By outsourcing to a trusted PEO partner through NetPEO, you simplify everything involved.
From streamlined insurance enrollment to expert ongoing guidance, a Denver PEO delivers employee benefits services at scale that are tuned precisely to your organization. Contact NetPEO today for a complimentary consultation on how a PEO partnership can help you.
