The Insurance Shop has access to more
than 50 PEOs across the country.
PEO's provide four
integrated services via co-employment including workers'
compensation.
PEO's
work by assuming some of the employer risks and
responsibilities for your employees. And as a strategic
partner, they lease those same employees back to your business
while administering some or all of the employee benefits,
human resources services, risk management, payroll, tax
administration and workers' compensation insurance.
Employees have access to benefits such as group health, 401(k)
plans, cafeteria 125 plans, life and dental insurance
options. Many PEO's offer even more value adding benefits and
services to fit your needs.
|
PAYROLL
& TAXES > |
HUMAN
RESOURCES
> |
|
• W-2's
• Tax fillings and deposits (940 &
941)
• Payroll checks & direct deposits
• Maintain and store employee
files
• Process garnishments, support,
etc.
• Wage verifications &
employee inquires |
• Employee handbook & job
descriptions
• Assist with SUTA claims &
hearings
• Provide HR consulting via
phone/on-site
• Compliance assistance- FMLA/COBRA/etc
• HR forms and employment
paperwork
• Training and worksite assistance |
|
WORKER'S
COMPENSATION
> |
EMPLOYEE
BENEFITS
> |
|
• Negotiate & procure
work comp coverage
• Eliminate down payments & audits
• Manage claims & return to work
programs
• Worksite safety programs
• OSHA logs and reviews
• Fraud investigation |
• Provide access to
health or administer plan
• Dental & Life insurance plans
• 401(k) retirement plans
• Section 125 Flexible benefit
plans
• Time savings on administration
• Additional benefits & employee
perks |
|
|
Your
Business, Inc. |
|
Owner/Manager |
^ |
|
PEO -
Administration |
|
Payroll, Taxes, HR,
Work Comp,
Benefits. |
|
The PEO becomes
your outsourced employee
processes
department |
^ |
|
Sales & Marketing |
|
Bottom
Line Activity
|
|
|
Operations |
|
Bottom
Line Activity
|
|
|
Products & Services |
|
Bottom
Line
Activity
|
|
As an employer or manager, you
get to clear your desk of things like payroll, paperwork,
employee taxes, quarterly reports, workers' compensation
insurance and those big down payments, premium audits, claims
management, benefits procurement, administration, and many
other burdensome tasks related to the business of employing
people. Now you'll have time to grow your bottom line....
PEO client customers enjoy
greater employee satisfaction, decreased liability exposure,
decreased time and costs involved with employment laws, and
the freedom to focus on their core business.
We work with a wide range of
PEO’s offering various features and benefits that solve real
business problems.
Another advantage of working with us
at The Insurance Shop is our ability to market your insurance in
multiple directions and then help you determine which
opportunity best fit your needs- giving
you the most options available.
To learn more about PEOs visit our
sister company:
www.PEOshop.com
|
plan comparison chart:
|
|
|
Traditional Comp |
Pay As You Go Comp |
PEO Outsourcing |
|
Down payments |
largest
down payment
(25% -
50%) |
one time
down payment
(1 month-
estimated) |
zero to
low down payment
(depends
on PEO) |
|
Audits |
based on
estimated payroll
(could
owe more premium) |
based on
actual payroll
(no more
premium due) |
based on
actual payroll
(no more premium due) |
|
Experience Modifiers |
based on
your modifier
(issued
by NCCI) |
based on
your modifier
(issued
by NCCI) |
based on
PEOs modifier
(issued
by NCCI) |
|
Cash flow |
OK |
Good |
Best |
| Notes |
Good for low premium companies with low
experience modifiers and no additional administration
and/or HR services needed. |
Good for higher premium companies with
low to moderate modifiers and no additional
administration and/or HR services needed. |
Good for
any premium size companies with low to high modifiers.
Provide many additional turn-key services.
|
