06 Jun Could You Benefit from Switching to PEO Workers Compensation?
In many states, businesses are required by law to purchase workers’ comp for their employees. Failing to do so could lead to fines, and other unpleasant consequences. For some business owners, dealing with a workers’ compensation claim is added stress and seems very time-consuming, taking up hours that could be used growing their business. Do you feel this way? Then you should consider trading your current workers’ comp for a PEO workers compensation plan.
PEO stands for “professional employer organization”. Employing one to handle your business’ workers’ comp could save you a lot of time. How?
- The PEO could handle any audit needed for workers’ comp.
- It may also take over the filing of injury reports.
- With a PEO policy, you could hand off much of the work involved in arranging transitional duty and return to work programs.
- The PEO may also arrange drug testing after an accident on-the-job.
- In addition, the PEO may help coordinate the needed medical care for the injured employee.
Switching to a PEO workers compensation plan could save you more than time. By working with a PEO for your workers’ comp needs you may be able to save money as well. Many insurers offer these organizations discounts since they deal with master policies, which are plans that cover multiple businesses. Are you interested in joining a PEO?
Contact one of our advisors today to learn more.