Free eGuide explains maintaining your benefits offering while cutting costs

Being underinsured can occur when a person’s health insurance doesn’t adequately cover their healthcare needs. This can happen due to high deductibles or other out-of-pocket costs. What often happens at renewal is underinsured employees select “better” or more expensive coverage plans.

From the employer’s point of view, this is extremely difficult to predict, and when many employees do this, it can have a significant impact on your employer benefits costs.

On the other end of the spectrum, when people have premium health coverage, they tend to be less concerned about the cost of medical services. As a result, they might seek unnecessary or excessive care since they don’t bear the full financial burden. This “over-consumption” of healthcare can potentially cause the insurance carrier to dramatically increase rates at renewal.

In between are “best” health coverage options for someone and their family, and that depends on individual circumstances, such as budget, preferred doctors, and healthcare needs, as well as plan details, deductibles, copayments, and coinsurance.

Selecting coverage in this sweet spot between being underinsured and overinsured is complicated and often overwhelming for even the most informed employees.

PEOs are companies that help small and mid-sized businesses with their HR functions. Instead of dealing with the hassle of payroll processing, benefits administration, risk mitigation, and much more, businesses get help for these critical tasks from the expert hands of a PEO.

Benefits, such as dental, vision, and health, are sponsored by the PEO rather than the client company. Besides health insurance benefits, PEOs can provide access to disability insurance, life insurance, and more.

At TriNet, we know that part of what makes HR expertise extra valuable is knowing that it won’t destroy your bottom line. Working with a PEO can not only help take the uncertainty and stress out of HR admin, it can also help save on costs.  

It’s just a few steps to find out how much you could be saving. It really is that simple.

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2. Commuter Benefits: An FAQ With All the Right Answers
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3. Should You Offer Tuition Reimbursement? The Pros and Cons
The case for tuition reimbursement is strong when the program is structured to meet the needs of the worker and the business. You’ll want to consider the plusses and minuses when deciding on providing the benefit, including how your plan will work. 

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Hear from experts on all things HR including how to manage admin or how to choose a PEO who can do it for you.