Frequently Asked Questions
1. How do PEO’s help save money?
PEO’s, or Professional Employer Organizations, often represent thousands of employees across a variety of individual businesses. They then group all of these businesses together and get them access to Fortune 500 level benefits plans by negotiating better group rates with insurance providers.
This happens because insurance providers price corporate benefits plans based on a company’s total number of employees. Charging smaller businesses more and giving significant discounts to larger corporations. So if you wanted to get a plan for a company with less than 50 employees, the costs could be very prohibitive. The simple solution is to join a PEO and access the discounted group rate.
Many businesses also use PEO’s to outsource their HR needs instead of using an in-house HR staff. The PEO takes on responsibilities such as Payroll Administration, Benefits Administration, HR Administration, Compliance Management, Risk Management, and more. Overall, PEO’s can save companies a lot of money in many different ways.
2. How many employees do I need in order to work with a PEO?
We work with companies from 5 employees all the way up to 2000.
3. What if a PEO isn’t right for me? Are there other ways to save on employee benefits?
Yes! A PEO is not the right fit for about half of our clients. We are consistently coming up with creative savings options and utilizing the relationships we’ve built to renegotiate plan pricing with different providers. At the end of the day, every one of our clients saves an average of 30% on an upgraded employee benefits package.
4. Is this really a free service? How do you make money?
Our services are truly 100% free. Once we negotiate with the carriers on your behalf, the company that wins your business will pay us a commission for bringing them the business.
5. Since you’re getting a commission from the provider, are the rates you show us higher than what we can get by going to them directly?
Believe it or not, they’re actually lower. Since we are communicating with a number of carriers on your behalf, we are able to negotiate the prices lower than if you just went to them and asked for a quote.
One of our benefits experts will
get back to you within 24 hours.
Still have questions?
Schedule a consultation with a Pioneer Benefits Specialist today!Book a Consultation