Benefits administration improves profitability for businesses, whether they are large corporations or start-up organizations. A PEO gives companies access to great coverage plans for really attractive and stable rates. Even small companies can attract some of the best professionals in the job market with a great benefits package, retain skilled employees, get them motivated and extract the ultimate performance from them. Keeping a company’s most precious assets – the workforce – satisfied and motivated positively affects its functioning and has a bearing on its ultimate performance.
Benefits – Comprehensiveness Guarantees Satisfied Employees
Benefits administration outsourcing improves profitability as a comprehensive range of benefits provided by a PEO generally touches upon all relevant areas contributing to a comfortable, happy and stable existence for employees and their families . This may seem too much for your organization to handle, but the PEO will discuss your requirements and resources and help you offer the most comprehensive plan possible. Generally an employee benefits package consists of features such as:
- Employee health benefits & insurance plans (PPOs, HSAs)
- IRA solutions (Individual Retirement Accounts)
- Retirement Planning
- Dental and vision care
- Long term and short term disability insurance
- Cancer, accident, hospital and other supplemental plans
- Education saving plans
- Adoption assistance
- Cafeteria plan
- Flexible spending accounts
- Individual coverage
- Employee voluntary benefits programs
- Prescription drug plans
The PEO also reviews any existing benefit plans your company may be having and improves upon them. Thus, the PEO’s benefits administration truly improves profitability for your organization.
Benefits Administration - Kruse PEO cover a wide range of services including employee benefits management, employer liability management, payroll services , risk management , accounting and billing services.