Let’s first start out by answering what a PEO is? A PEO or Professional Employer Organization is a company that specializes in benefits “pooling”. What these companies do is take out workers’ comp insurance and health insurance policies with A rated carriers. They then start adding clients to these policies and in return each company receives a total purchase power of the entire group. This allows small and medium size business to obtain rates they normally could not obtain on their own.
Advantages to this model is that risk is spread throughout the entire group, which leads to lower year over year rate increases. Companies can utilize a workers’ comp modifier of the PEO and also the healthcare rates of the PEO. They can also use the PEO’s SUTA tax rate, which would be significantly lower if your company has high turnover.
So what is a PEO Broker? A PEO Broker is a person that represents many different PEO’s and brokers for many different companies. The advantage of working with a PEO Broker is that you only have to submit your information to one person and they can get pricing from many different PEO’s. This allows the broker to find the very best pricing and solution for the needs of the clients. They also know which PEO’s to avoid and which ones are right for certain industries.
If you are interested in a quote, contact us today.
http://www.peobrokersofamerica.com
888.370.5406
info@peoboa.com
Jacksonville, FL Based