Securing quality health benefits for employees can challenge Salt Lake City businesses. However, partnering with a Salt Lake City professional employer organization with insurance services could bring your company better and less expensive health insurance easily.
NetPEO specializes in connecting companies to experienced PEO partners nationwide who can bundle health insurance with comprehensive HR services. Their dedicated specialists research options that are tailored precisely to your organizational needs.
Outsourcing your health insurance services to a Salt Lake City PEO can reassure your employees about their health coverage and help make your company more attractive to new talent. If you don’t have group health insurance yet, contact NetPEO for free quotes on PEOs who can help.
What Types of Health Insurance Can a PEO Administer?
PEOs have access to a wide range of quality health insurance plans from top-rated carriers that they can make available to client companies and their employees. Common options include PPOs, HMOs, and HDHPs with a health savings account.
Dental, vision, and prescription drug plans are also commonly offered. Many PEOs also administer voluntary plans like life insurance or accident insurance. Clients have the flexibility to select the best mix of benefits to attract and care for their unique workforce.
Your chosen Utah PEO company acts as the single point of contact for employees to ask questions about their insurance policies, taking full responsibility for enrollment, eligibility, premiums, claims handling, and compliance for all chosen insurance lines.
Why Companies Should Offer Employees Health Insurance Benefits
Partnering with a PEO company provides businesses access to a variety of health plans previously unobtainable due to economies of scale. By joining a large risk pool, even small firms qualify for competitive rates and comprehensive options.
As the plan provider and claims administrator, the PEO handles enrollment, premium payments, compliance issues, and much more. This service frees up employers to focus on operating their business while still providing strong health protections for staff.
Providing health benefits through a PEO also improves employee satisfaction, loyalty, and productivity. Workers value organizations that demonstrate care for their well-being. Robust coverage helps reduce job-related stress over affording medical bills should illnesses or injuries occur.
How a Professional Employer Organization Protects Your Employees With Health Insurance
By partnering with a PEO company, businesses gain expert guidance in developing competitive health insurance plans for their workforce. PEOs bundle client payrolls into much larger risk pools. This allows them to negotiate affordable group rates with top-rated carriers.
The PEO handles all paperwork and coordination with insurance providers. They manage enrollment, pay premiums on your behalf, and respond to any claims or issues on behalf of client companies.
Outsourcing health benefits to a PEO provides both businesses and their staff with peace of mind. Employees benefit from the stability of knowing their healthcare coverage is protected regardless of changing workplace conditions.
How Co-Employment Works With a PEO
Through a co-employment arrangement, a PEO becomes a co-employer of a client’s existing workforce. The client remains responsible for day-to-day operations, while the PEO assumes responsibility for regulatory compliance and benefits administration.
By grouping multiple client payrolls, PEOs obtain better insurance rates through economies of scale. They pass these savings directly to clients in the form of reduced premium costs. Client companies benefit through cost reductions, compliance assistance, and increased focus on core business operations.
As the employer of record, PEOs also handle bureaucratic tasks like filing taxes, ensuring compliance with employment laws, and responding to audits or claims. This takes a huge administrative load off client companies.
How Else Can a PEO Help My Business?
Through co-employment, a PEO can administer retirement benefits like 401(k) plans that may not have been previously available to your employees. They can also offer other voluntary benefits like life insurance, flexible spending accounts, and wellness programs.
A PEO can also take on important tasks like payroll processing, workers’ compensation coverage, and compliance with employment laws. Plus, they can assist with hiring and training, employee relations issues, and responding to any legal or regulatory inquiries on your behalf.
Partnering with a PEO allows you to focus solely on your core business functions while gaining expertise in attracting and retaining top talent, providing benefits, and much more. This strategic partnership strengthens your chances of business success.
Contact NetPEO for a Free Quote
NetPEO connects Salt Lake City PEOs with health insurance services to local businesses. Along with health insurance, a PEO can help your company with many other HR and payroll tasks. Contact NetPEO to explore whether a PEO solution is best for your health insurance needs.
Schedule an interview with our specialists and get free quotes from local PEOs from NetPEO. We’ll select PEOs who know Salt Lake City and your industry. Call now and let’s end your health insurance worries together.
