All about the new Healthpass NY PEO powered by DecisionHR
We are pleased to be one of the first insurance brokerages to be able to offer the new PEO being rolled out by HealthPass NY and DecisionHR. While this is a new joint venture between some of the power players in the NY Health Insurance and Human Resources fields, the PEO concept is anything but.
With tens of thousands of NY, NJ, and CT employees enrolled in HealthPass’s private exchange, they have over 20 years’ experience providing group health, dental, vision, and COBRA Admin to small businesses in the tri state area. Hoping to capitalize on the growing trend towards outsourcing HR and Payroll services to take advantage of expertise not readily available in a small business, HealthPass and DecisionHR have introduced their one stop shop for PEO services. This new venture is called HealthPass NY PEO powered by DecisionHR. For ease we will refer to this as HPDHR.
What is a PEO?
A professional employer organization (PEO) provides comprehensive HR solutions for small and mid-size businesses. Payroll, benefits, HR, tax administration, and regulatory compliance assistance are all outsourced to the PEO while control over hiring, firing, hours, and job responsibilities remain with your company. This outsourcing allows for economies of scale for benefits and HR admin, while retaining tight control over the ‘employees’ of the company. By pooling the employees of multiple employers for purposes of better health, dental, vision, 401k, and Workers Comp rates a business that partners with a PEO can see substantial savings on these services vs what they are paying now. In turn, the employer retains all control over who they hire, hours worked, hiring and firing, and all other aspects of having employees. It is a true win-win situation.
Who Benefits from a PEO?
Typically businesses with at least 5 employees are required to be eligible for a PEO. The typical size group is from 20-50 employees but can go as high as 150-200 or more. Startups, high tech, multi state firms, and high paying industries are perfect complements for a PEO partnership.
What are the savings and how can I get a quote for my company?
Savings on Medical, Dental, Vision, Workers Comp, and even payroll processing can be substantial. 10-25% savings on Medical is common and overall there should be a savings to the company while providing more benefits than are currently offered. There is also savings of time and research for employment law, cobra admin, as well as ease of onboarding with the hiring process, pre employment automations and even services such as PPP loan assistance.
As an approved broker with HPDHR we can schedule a short introductory online overview of what HPDHR can provide to you. We will go over what you are currently doing with your company and gather some facts to determine if HPDHR is a good fit for your firm. If they are, we will work with you and HPDHR to provide a quick 3-4 day turnaround for a full quote. HPDHR representatives will be on all calls and you will have multiple opportunities to ask any questions.
Schedule a 20min online consult today
via our dedicated HPDHR site to see how we can help your company’s bottom line!
