Benefits of Signing up with a PEO
Workers' Compensation and Risk Management
Unlike insurance brokers and carriers, PEOs can resell their Workers Comp at the price they want which in many cases for senior living is way more competitive than traditional guaranteed cost or deductible programs. PEOs manage their WC programs better than typical carriers due to more focused loss control and claims handling services which lead to less frequency and severity which reduces ultimate WC costs.
Payroll & Tax Admin and HR Compliance including EPLI
Businesses pay PEOs a fee which includes HR outsourcing & compliance including EPLI, payroll & state unemployment tax admin which runs off of leading technology usually not available for its cost basis.
Employee Benefits & Admin
PEOs provide businesses Fortune 500 type comprehensive group health, life and retirement plans at competitive prices so it can recruit and retain talent better than its peers. In addition, they leverage the same high end tech platform which handles the HR, payroll & WC so it is more user friendly for both the employee and employer.