Pharmacy costs have continued to rise over the last 10 years, with spend shifting to high-cost brands and specialty medications. Now 1% of claims are driving 40% of the cost for most plans, causing drug spending to feel like its spiraling out of control. As an employer, did you know that you have some control over pharmaceutical cost drivers? While there are some things that cannot be … [Read more...]
What Employees Want, But Don’t Have
Once an employee lands a job, there are various factors that drive employees to stick around long-term. Of course, salary plays a major role, but over the past several years, workplace benefits are beginning to play an equally important factor. Finding and retaining top talent in today’s marketplace is tougher than ever. Competition is high and employees are looking for businesses that offer … [Read more...]
3 Critical Truths Every Business Needs To Know
The following three tips could potentially save your business lots of time and money. Timing is Everything In the PEO industry, timing can be everything. Much of the core workload for a PEO is administrative, and HR duties such as payroll and managing employee benefits require more attention towards the end of the year. Therefore, if you’re looking to make a PEO change by January, … [Read more...]
Group Health Insurance Costs Skyrocket in 2019
According to MoneyControl.com, corporate accounts can expect increases on group health insurance premiums from 15%-18% in 2019. Many have already seen this increase and even more will see a rise beginning April 1st. Insurance companies are reporting, “We had no other option but to raise premiums for products due to rise in costs of medicines, medical equipment, and hospitalization.” Many … [Read more...]
The Agency’s PEO
We are in the process of adding a few qualified P&C agents and brokers to our outsourcing program. This program is designed to partner with you and provide you with our portfolio of products and services, such as our No Down Payment, No Audit, Pay-as-you-go Workers’ Compensation Program, as well as a host of other programs. Following are just a few of the challenges that we can help you … [Read more...]
Medicare For High Income Beneficiaries
Rules For Higher-Income Beneficiaries People who have higher incomes are required by law to pay more on Medicare Part B and Medicare Prescription Drugs. This affects a little less than five percent of the population. Essentially, five in every one hundred people have to pay extra for medical insurance. This additional cost for higher income families is called the income-related monthly … [Read more...]
Medicare’s Annual Enrollment Period Is Now
Now is the time to look at Medicare for your eligible employees! Do you know which of your employees is eligible for Medicare? Now is the time to make sure your eligible employees are covered. Medicare Eligibility Requirements: Must be a US citizen and legal resident Must be age 65 or older If younger than 65 must have certain disabilities Can be any age with end-stage renal … [Read more...]
PEO Broker LLC Makes Offering Benefits Affordable & Easy
One of the most powerful ways to attract top talent and retain employees is to offer a great employee benefits package. For many employers, this can be expensive and hard to manage. PEO Broker clients can present a comprehensive employee benefits package to their staff that includes retirement savings, at a price they can afford. When you work with PEO Broker LLC our PEO’s master policies are … [Read more...]
Time Saving Technology for Business Owners
PEOs offer a technology called, human resource information system (HRIS) that make the process of accessing valuable information easier and faster for employers and employees. Using this technology system provides easy access to employee records, time entries, benefits and reporting. Employers or their administrators can enter payroll hours in the HRIS each pay period or rely on common … [Read more...]
Save Time With A PEO
On average, small business owners spend 25% of their time on paperwork and other non-revenue generating tasks. What if you could get that time back to focus on what matters the most? PEOs provide HR expertise, processes payroll, administers employee benefits, and manages insurance programs and more. This makes it possible for PEO clients to have fewer HR challenges and more time to focus on … [Read more...]