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The Value of PEO | Paychex
Through our dedicated service model, Paychex PEO helps you take on the major aspects and challenges of payroll and human resources. With your assigned HR professionals and continuously evolving technology, we assist you with human resource management, benefits administration, insurance plans, time and attendance, benefit accounts, State unemployment insurance administration, 401(k) retirement plans, payroll administration, and employee learning. Paychex PEO helps you focus on what matters most.
Save Up to 20% on affordable Fortune 500 level Group Health Plans and benefit packages with large pool pricing for any size business.
Customized Savings Per Employee Per Year
Customized Annual Savings on HR Related Cost
A Professional Employer Organization (PEO) is a third-party outsourcing firm that provides comprehensive human resources (HR) services for businesses. Companies that engage with a PEO essentially enter into a co-employment arrangement. This means that the PEO takes on certain employer responsibilities, such as payroll administration, employee benefits, HR management, and compliance with employment laws. Working with PEO services can help you as a business owner and your management teams focus on the business.
Businesses Owners looking for savings on their benefit plans may wonder. What is a PEO?
Group Health Insurance:These may include options for medical, dental, and vision coverage. Group health plans through a PEO can be more cost-effective for small and medium-sized businesses due to economies of scale.
Workers Compensation: workers' compensation insurance for employees of PEO client companies.
Retirement Plans: 401(k) or SIMPLE IRA plans.
Life Insurance: Group life insurance coverage
Disability Insurance: Short-term and long-term disability insurance plans
Flexible Spending Accounts (FSAs) and Health Savings Accounts (HSAs): allow employees to set aside pre-tax dollars for qualified medical expenses.
Employee Assistance Programs (EAPs): EAPs provide employees with access to counseling and support services.
Wellness Programs: programs designed to promote employee health and well-being.
Voluntary Benefits: employees can choose to purchase, such as supplemental insurance (e.g., critical illness, accident insurance), legal services, and identity theft protection.
Educational Assistance: programs that help employees pursue further education or professional development by providing financial support.
Employee Discounts: discounts and perks for employees, such as discounts on entertainment, travel, or other services.
PEOs leverage their collective employee base to negotiate competitive rates and provide access to benefits that might be more challenging for individual small businesses to obtain.
How does PEO get you Affordable Group Health Insurance?
Dollars For Referrals!
What PEO Benefit Plans do business see the most cost saving?