Health Care Reform - 5 Reasons to Begin working with a PEO today

Updated: January 04, 2011

  1. Companies with 50 or more employees will be assessed a fee for having an employee on the payroll that is using a tax credit for the health insurance exchange (we will review exchanges in a future article). The PEO or employee leasing company is ideally made for the tracking, reporting and remittance of this type of fee. Look for PEO's to provide this as part of their service offering for their larger clients.
  2. The language states that providing employers with 25 employees or less, and an average salary of $40,000 or less that provide health insurance for employees will get a tax credit. This is perfect for your PEO. By providing access to insurance, the PEO ensures you can receive the credit, but better yet, the PEO will also be helping you to get the correct paperwork together for this credit - in effect paying for the PEO services (depending on credit size).
  3. Wellness program equals win-win. The government will provide credits and/or subsidies to employers that provide access to a wellness program. The goal is that this will reduce health care costs overall. So, in addition to medical benefits, the PEO will provide access to these types of programs, allowing you to take advantage as soon as the law takes affect. In fact, the PEO will help assist you on reporting requirements to take advantage of the savings.
  4. Tax changes, HSA changes, and tax reporting of employers providing benefits. Need we say more? A PEO helps you with payroll and tax reporting, they will do this for all of their clients once it's enacted, so why worry about it - it will be automatic.
  5. You will be more competitive then ever before. Quite honestly, there will be a number of employers that will throw their hands up and take the hit on penalties and other ramifications. However, overall this increases the costs for many of your employees and as we know, the #2 reason employees stay with an employer is medical benefits. So, while your competitors are losing employees, your PEO will be helping you keep the good ones, now more then ever.
Featured Research
  • Executive Brief: Mitigate Avaya risk and future-proof your customer experience

    When Avaya filed for bankruptcy, it ended months of speculation. However, the company’s ongoing financial instability has left many businesses in a precarious position. If you’re concerned about your future with Avaya, don’t wait around to see what long-term options are available to modernize your customer engagement center. more

  • Harnessing the Power of Speech Analytics

    The conversations between your customers and agents contain invaluable insights—if you have the right tools to easily interpret and act on this dialogue. Unfortunately, most organizations waste time manually mining only a subset of customer interaction data, or worse yet, do nothing with it at all. Speech analytics is an incredibly powerful tool for contact center leaders. It easily delivers real-time visibility into the full customer journey and agent responses, which are essential for driving higher customer satisfaction and business success. more

  • Budgeting for BI in 2018

    Is your business ready for Business Intelligence (BI) software? As BI software continues to improve, more businesses are moving to adopt BI sooner rather than later. Before you make that commitment though, it pays to figure out exactly how much money it will cost you to implement. more

  • Gartner Report: Gartner Magic Quadrant for Contact Center Infrastructure, Worldw...

    The 2017 Magic Quadrant provides Gartner’s annual analysis of the contact center infrastructure vendors. The report examines the innovations driving the market and compares vendors based on completeness of vision and ability to execute. more

  • Forrester Report: Artificial Intelligence with the Human Touch

    Artificial intelligence (AI) can’t replicate the human touch, but it can ease your agents’ burden by handling many simple, repetitive requests. A new Forrester Consulting paper offers a look at the strengths and weaknesses of both AI and humans independently, yet how blending them together can give your customers the seamless end-to-end experience they expect. more