PEO vs. Traditional Benefits

 
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Benefits Evaluation Group…

… specializes in providing small and mid-sized companies with comprehensive, integrated solutions for managing benefits, one of the trickiest problems in the business world.  Why?  Because benefits are one of the costliest aspects of running a company, yet they are critical in attracting and retaining the key employees that can make or break a company’s growth strategy.  Especially when so many businesses gain a competitive edge with knowledge workers… in a 4% unemployment scenario.

Thanks to expertise and longstanding relationships Benefits Evaluation Group can provide your company with access to Fortune 500-like benefits while saving you tremendous costs.

The first question is whether you should look to a PEO or traditional benefits solution.  Because the chase for talent is so competitive, and margins are thinning every day, this choice is a key decision.  And unlike going directly to a PEO or a benefits company that have mandates to sell you their particular PEO or benefits program respectively, we have no dog in this hunt… other than you, our client.  

Professional Employer Organization (PEO)

A PEO gives you the opportunity to outsource human resources management and benefits administration services, such as:

  • Payroll

  • Benefits

  • HR

  • Tax administration

  • Regulatory compliance assistance

Essentially and extension of your company, a PEO delivers a wide range of services through a co-employment model.  And because a PEO forms one large conglomerate that serves all of its clients’ employees under one roof, each of its companies leverage tremendous buying power to get more value—better programs for less money.

Why Choose a PEO?

Share Risk: If you join a PEO, you will have a partner who will help you navigate the risks and responsibilities that come along with owning a business.

Save Money: A PEO offers better rates than are typically available from traditional insurance carriers. One study found that companies who use a PEO save as much as 35 percent on HR administration costs.

Increase Productivity: Since you are not tied down by tedious administrative responsibilities, you can focus all of your energy on growing your business.

Attract and Retain High-Quality Employees: Better benefits helps your company hire more competitively by offering great options for your key employees such as:

  • 401(k) plans

  • Health

  • Dental

  • Life

  • Vision

  • Long Term Disability

  • Life Insurance

  • Group Discounts

Benefits Evaluation Group can help you determine if a PEO is the right option for your particular situation and once that is determined, which PEO is the best solution for your needs.

Employee Benefits

If a more traditional benefits program is better suited for you, Benefits Evaluation Group will help you make the decision.  The quality of your employee benefits package is pivotal to the short- and long-term success of your business because again, it is focused on getting and keeping the best talent, while controlling a large cost center.

The broad range of benefits packages available through Benefits Evaluation Group can give you the specific program necessary to opportunity to allow you to compete for talent with much larger companies.   And again, it is our 30+ years of knowledge, experience and dedication along with ironclad relationships with carriers that provides this wide range of insurance options.  Your perfect solution is there for the taking.

Group Health Insurance

Benefits Evaluation Group can help you cut costs and at the same time, find the ideal benefits package.  We provide affordable group health insurance solutions for small and medium-sized businesses that are ideal for the employees you need to grow to the next level. It’s all about provide your employees with comprehensive coverage with large a pool of healthcare providers as possible… at competitive rates.  The last thing you want is your key people to be worrying about healthcare costs when they should be coming up with the next great innovation for your company. 

Whether you are considering a PEO Platform, a Fully Insured Program, a Self-Funded Program or a Hybrid (which is a cross between Fully and Self-Funded programs, commonly referred to as a Minimum Premium program), you’re best bet is to call us so we can evaluate your circumstances and objectives, and provide an unbiased viewpoint of the best alternatives.

Voluntary Benefits

Benefits Evaluation Group will also help your company offer several types of voluntary benefits that are desired by and paid for by your employees.  With these programs, employees save money and receive more protection with an extra cost to you.  These include:

  • Disability Insurance: An optional benefit you can provide your employees, which will protect their earning potential.

  • Life Insurance: Benefits Evaluation Group will give even small businesses the ability to offer life insurance.

  •  Long Term Care Insurance: Helps your employees pay for expenses like an assisted living facility or a nursing home.

  • College Tuition Reimbursement Program: Benefits Evaluation Group offers a unique college tuition reimbursement program that covers the value of up to one full year of tuition at more than 200 colleges nationwide.

And if there are other voluntary benefits that you think may be desirous by your employees, we will try to find the best solutions to differentiate your offering from competitors and gain the people you need to bring your organization to the next level.