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Peo Fit

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  • 1. PEO: A Fit for You? PEO: A Fit for You? Presented by: eESI Steven Hookstra
  • 2. Agenda
    • What is a PEO?
    • Interesting statistics!!
    • PEOs - Solution to business administration needs
    • Are all PEOs created the same?
    • PEO: A Fit for you?
    • Even PEOs Love Healthcare Reform
    • How do they get those cheap insurance rates?
    • PEOs Focus on the Future
    PEO: A Fit for You?
  • 3. What is a PEO?
    • P rofessional E mployer O rganizations
    • Enable clients to cost-effectively outsource
      • Management of human resources
      • Worker’s Compensation /
      • Risk Management
      • Employee benefits
      • Payroll administration
    • Clients focus on their core competencies
      • Drive innovation, productivity and profits
    PEO: A Fit for You?
  • 4. PEO: A Fit for You?
    • What is a PEO?
    • Co-Employment
    • Contractual Agreement (CSA)
    • Sharing of Employment Responsibilities:
      • Between PEO / Client / Employee
      • Employer of Record
      • Grouping of these employment responsibilities
        • Administration, Efficiencies and Innovation
  • 5. PEO: A Fit for You?
  • 6. What is a PEO?
    • License Requirements established by each state
    • Regulated by the Department of Insurance
    • SUI Account
      • Utilization of PEO experience modifier
        • Some states do require client modifier
    • Worker’s Compensation
      • Non – Monopolistic State
        • Private insurers
        • Self-insurance allowed
        • Texas is the “Lone Star” state; allows opting out of the system
    PEO: A Fit for You?
  • 7. Statistics!!!
    • Relatively new industry ~ 30 years
    • Over 700 PEOs
    • 78 Billion dollars in revenue
    • 40+ Accredited through ESAC
    • Average client size ~ 19 employees
    • Average wages $34,000
    • 2-3 million employed under a PEO relationship
    PEO: A Fit for You?
  • 8. PEO: A Fit for You?
  • 9. PEO: A Fit for You?
  • 10. PEO: A Fit for You?
  • 11. PEO: A Fit for You? PEOs – Solutions to Business Administration Needs
  • 12. PEOs - Solutions to Business Administration Needs
    • HR infrastructure and technologies
    • Mitigate employment risk
      • Sharing of most employment liabilities
    • Compliance of regulations and future challenges
    • Bundle of products and services
      • Increase profitability
    • Ultimately reducing cost and focusing on your business
      • Maximize productivity
    • What have we failed to say?
    • Enhance benefit offerings
    PEO: A Fit for You?
  • 13. PEO: A Fit for You? Are All PEOs Created the Same?
  • 14. Are All PEOs Created the Same?
    • All-Inclusive vs Carve out
    • National vs Regional
    • Accredited vs Non-Accredited
    • Licensed vs Non-Licensed
    • Large vs Small
    • How do they manage risk?
    PEO: A Fit for You?
  • 15. PEO: A Fit for You?
    • Leadership and Culture
      • Disney Michael Eisner vs Robert Iger
      • Smaller vs Larger agencies
    • Insurance agents and brokerage firms
      • Partnering with PEO opportunities
        • Larger regional insurance companies
          • Partnering with PEOs
          • Buying PEOs
        • Why? Because it extends products and services within their business model and adds value to current relationships
    PEO: A Fit for You?
  • 16. PEO: A Fit for You?
    • Questions
    • Whose client is it?
    • Will I lose control?
    • Is there revenue sharing?
    • Can I keep my current benefits?
    • Who holds the AOR?
    • Who services the account?
    • Is the PEO accredited?
    • What are the competitive advantages of your PEO?
    PEO: A Fit for You?
  • 17. PEO: A Fit for You? Even PEOs Love Health Care Reform
  • 18. Even PEOs Love Health Care Reform
    • Impact on PEOs
    • How are they complying with the Act?
      • Small business tax credits
      • Grandfathered plans
      • Altered plans to comply with current regulations
    • Questions
      • Management carve outs
      • Individual mandates
      • Exchanges
      • Pre – Existing Conditions
      • W-2 Reporting
      • MLR
    PEO: A Fit for You?
  • 19. How Do They Get Those Cheap Insurance Rates?
    • Multi-employer plans
      • Spread the risk
      • Underwriting guidelines
      • Design own plans
      • Uncertain how Healthcare Reform will impact
    • Consumer driven health plans
    • HRA/HSA/ GAP products/
    • Supplemental insurance
    • Strategic alliances with brokers
    PEO: A Fit for You?
  • 20. PEOs Focus on the Future
    • Change
    • Focus on service and strategy
    • Growth and increase in competition
    • Mergers and acquisitions
    • Growth in PEO market share
    PEO: A Fit for You?
  • 21. PEO: A Fit for You?
    • Web: www.eesipeo.com/peopletalk_eevents
    • Facebook: www.facebook.com/eEmployersSolutions
    • LinkedIn: www.linkedin.com/company/eesi
    • Steven Hookstra: [email_address]