Working with a professional employer organization PEO is one of the best decisions you can make for your company. This co-employment relationship gives your employees access to comprehensive benefits packages, including employee health insurance, unemployment insurance, and other types of valuable insurance coverage options.
Our San Diego PEO insurance services through NetPEO could be the solution you have been looking for. Here is more about the different types of insurance services that may be available and what to expect when you decide to work with a PEO.
What PEO Insurance Services Consist Of
Depending on where you live in the United States and where your business headquarters are located, you may be legally required to provide your employees with specific types of insurance protection coverage. You can partner with a PEO who will have a clear understanding of the state laws to ensure you are in compliance at all times. This way, you are not putting yourself, your business, or your team members open to potential liability, sanctions, or your business being temporarily or permanently shut down.
For example, some states require employers to offer their employees health insurance coverage. Many states require employers to provide employees with workers’ compensation protection coverage. There are countless other types of insurance options you may be able to offer your employees when you work with a PEO.
This way, the most highly sought-after talent in your industry will consider your company one that prioritizes their employee’s needs. When you offer your employees the protection and financial support they need, they are more likely to remain loyal, which will reduce your company turnover rates and save you money in the long run.
You may also want to consider offering certain types of insurance coverage to your employees to get the tax breaks associated with these offerings. If you can save yourself money in taxes, you can reduce your total business expenses and increase company profits.
Top-Rated San Diego Insurance Service Options
PEO insurance providers in San Diego can offer a wide array of options based on your company’s specific needs. Some of the most popular insurance services our clients include in their comprehensive employee benefits packages include:
Workers’ Compensation
Workers’ compensation protection coverage may be required by state law, depending on where your company’s headquarters are located. If you are obligated to provide your employees with workers comp protection coverage, when your staff is injured or becomes ill due to the work environment or conditions, they can file a claim with the insurance company and access specific types of benefits.
Some of the most common benefits available through workers comp include:
- Wage replacement or disability benefits
- Total coverage of medical expenses and future medical care related to the injury
- Vocational rehabilitation benefits so employees can obtain the job training and education they need to get back to work in a new industry
- Death benefits to surviving family members of deceased workers
When you offer your employees workers comp protection coverage, in most cases, they no longer have the right to sue you in civil court for negligence. However, you may be called on as a third-party witness if another party’s negligent actions contributed to the employee’s injuries.
Disability Insurance
There are several types of disability insurance that may be available, including short and long-term disability insurance. Short-term disability insurance generally lasts for a maximum of six months while long-term disability benefits can last for years until the disability resolves or the victim’s disability benefits convert to retirement benefits.
If an employee suffers a disability of any kind, whether that be due to an injury, pregnancy, medical condition, or illness, disability insurance benefits give them access to a portion of their lost income so they can continue to provide for themselves and their families while they heal and cope with their condition.
Life Insurance
Life insurance is an excellent option for employees with families. If your employees purchase life insurance coverage and they subsequently pass away, their surviving family members and beneficiaries will be awarded a lump sum settlement payout which will help them avoid financial instability and cover the cost of their loved one’s funeral and burial expenses.
Unemployment Insurance
The economy can be tough, and when you offer your employees unemployment insurance, you can protect them if you ever need to move forward with temporary or permanent layoffs. Your employees can file an unemployment insurance claim and access wage replacement benefits so they can cover their monthly household expenses while they look for new job opportunities.
Your Business Benefits from San Diego PEO Insurance Coverage
Your business can only benefit from working with a San Diego PEO insurance provider. Not only are you taking care of your employees, but your PEO can handle all of the administrative details associated with insurance coverage and claims.
Your PEO can find affordable and comprehensive insurance coverage at reduced rates due to your co-employment agreement. This increases the size of the PEO’s company, which means insurance companies can offer premiums at more affordable costs due to the decreased risk of Injuries and Claims being filed.
Since your insurance PEO will handle the administrative end of your business, if your employees need to file a claim with the insurance company, your PEO can handle these responsibilities, address any complaints, and make sure your employees are accessing the benefits they are entitled to.
Other Advantages of PEO Services in San Diego
Other benefits of going with a San Diego PEO insurance provider include:
- Ensuring your businesses are in compliance with state and federal insurance rules and regulations
- Getting your employees the best insurance policies at affordable rates
- Help handling the human resources end of the business, including payroll, HR complaints, taxes, onboarding and training, and other HR responsibilities
Start Working with a San Diego PEO Today
Your employees can benefit from having the insurance protection coverage they need when they need it most. By taking care of your employees, you can promote loyalty and reduce company turnover rates.
Our San Diego PEO insurance services could be the best solution when you are looking to boost productivity And take your company to the next level. Contact NetPEO to be matched with the right benefits services provider. You can reach us by phone or through our convenient contact form to get started today.
