At Sixth Man Employer Services, we recognize that offering competitive employee benefits, especially health insurance, is both necessary and challenging. As required by law, health insurance can become increasingly expensive each year, adding financial pressure on employers.
However, employee benefits are a crucial factor in attracting and retaining top talent, making it essential to manage these costs effectively. Partnering with a PEO can provide significant advantages in this area.
Even small businesses can benefit from the competitive rates typically available to larger organizations.
Through strategic underwriting and careful client selection, PEOs can often limit annual rate increases to as low as 5%, compared to the typical 10-15% increase for small employers.
Full management of employee benefits plans, including plan selection, enrollment, and administration.
Ensuring your benefits program meets all requirements of the Affordable Care Act (ACA) to avoid penalties and remain compliant.
Accurate handling of payroll deductions and tracking of employee contributions.
Management of employee offers of coverage and tracking of waivers to ensure compliance and streamline administration.
Eliminating age-banded rates with composite-rated plans offers more predictable and equitable pricing.
Access to a range of ancillary offerings, including retirement plans, dental, vision, and other employee benefits.
PEOs often partner with major carriers like Kaiser, Aetna, UnitedHealth, and Blue Cross/Blue Shield, ensuring a robust selection of high-quality benefit options. Whether you aim to provide a competitive benefits package or meet minimum coverage requirements, a PEO can offer both value and potential cost savings, making it a smart choice for effective benefits management.