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PEO Staff Leasing

Can a PEO help your business?

More businesses are discovering how a Professional Employer Organization can help meet their many, government compliance and fulfill their management needs. Here are several reasons why a "PEO" could help your company:

 

  • Will pay your employees and handle payroll taxes such as FUTA, FICA, and SUTA.

  • Will help you comply with all state and federal government regulations.

  • Will provide a complete insurance and fringe benefits package.

  • Will pay state/federal unemployment taxes and handle any claims when you have to terminate any workers.

  • Will design and monitor workplace safety programs.

  • And, will help screen, hire, and retain key employees besides handling all major human resource functions such as preparing your employee handbook.

If you're tired of spending extra time dealing with these administrative annoyances, perhaps it's time for us to show you how a PEO can save you time and money.

Please, contact us so we can eliminate these business hassles from your business.

ASO-DBT

Employee Benefit Summary is a packet for current Employees to review all benefits and the enrollment page. It also includes the HIPAA Compliance form, Cafeteria Plan election, Waiver of Benefits and the Cost Summary to the employee.

ASO-DBT.  Will do the following:

 

Option 1: Administrate Employer Self Funding:

  • Specific

  • Aggregate

  • Claims Administration

  • Network Contractors

  • Utilization Review

  • Deductible Analysis

  • Monthly and Annual Reporting for:

    • Medical

    • Prescription

    • Dental

    • Vision

 

Option 2: Administrative Services Only

  • A) Class employees 1 & 2; PPO

  • B) Class Employees 4; Mini-Med first 2 years of employment

 

ASO-DBT provides record keeping and third party administrative services only. However, our alliances with major investment providers seamlessly connect businesses to quality investments. These alliances also mean minimal fees for linking record keeping and money management administrative processes. ASO-DBT also manages Self-Funding with Stop Loss. What is Self-Funding?

 

Self-funding is assuming all or part of the risk in exchange for much lower premium charges.

Why Choose Self-Funding? Self-funding benefits employers in many ways:

 

  • Control of plan design

  • Administration tailored to the employer's needs

  • Cash flow benefits - you hold your own reserves

  • Return on investment for reserves

  • Cost and utilization controls - access to many discount programs

  • Effective claim processing

  • Lower cost of operation - administrative fees are lower by nature

  • Elimination of most premium tax

  • Carrier profit margin & risk charge fee eliminated

  • Mandatory benefits avoided - state mandates can be avoided as self-funded programs are governed by ERISA

  • Risk management effectiveness through stop loss insurance - employer may choose the amount of risk to retain

What is Stop Loss coverage?
 

Stop Loss is an insurance product that provides protection against catastrophic or unpredictable losses. It is purchased by employers who have decided to self-fund their employee benefit plans, but do not want to assume 100% of the liability for losses that exceed certain limits called deductibles. Who is insured? A significant difference between Stop Loss and conventional employee benefit insurance is that Stop Loss insures only the employer. Stop Loss does not insure employees. What Stop Loss coverage is available? Stop Loss comes in two forms: Specific and Aggregate

What is Specific Stop Loss Coverage?
 

Specific Stop Loss is provided to limit the employer's cost for eligible medical expenses for each covered individual. This soverage addresses the organization's exposure to high expenses on a given individual, as opposed to an accumulation of expenses on all covered individuals. Generally, medical expenses are covered. An actively-at-work provision occasionally applies. Specific Stop Loss may be purchased without the purchase of Aggregate Stop Loss.

The "per person" deductible is determined before the start of the contract period, subject to certain minimums and maximums. If eligible medical expenses on a covered individual exceed the selected amount, the deductible is satisfied. The employer does no need to wait until the end of the contract period to submit a Specific claim for reimbursement. The premium charge is expressed as a rate per covered employee per month and a rate per covered dependent unit per month. The lifetime maximum benefit per person is generally $1,000,000, but higher amounts are often available depending upon the reinsurance carrier. Specific Stop-Loss: Reinsurance carrier will pay for all claims over a designated Specific Deductible. (Employer is responsible for all amounts up to the Specific Deductible).

What is Aggregate Stop Loss Coverage?
 

Aggregate Stop Loss is provided to limit an employer's overall annual cost for a self-funded plan. This coverage addresses the accumulation of expenses on all individuals, as opposed to high expenses for particular individuals. Any health benefit can be included under the Aggregate Stop Loss, such as medical, dental, vision, prescription drugs, and short-term disability. Stop Loss is generally not suitable for Life Insurance, Accidental Death & Dismemberment, Long-Term Disability, or other high loss insurance products, due to the unpredictability and infrequency of claims. Sometimes an actively-at-work/not-hospital-confined provision applies. Specific Stop Loss must be purchased along with Aggregate to provide protection for the Aggregate. Aggregate-only contacts will usually not be issued except in the rarest conditions, such as an employer with a $100,000 lifetime maximum. When eligible expenses paid during a contract period exceed the Annual Aggregate Deductible, the group is reimbursed as specified in the contract, after the close of the contract period. The premium charge is expressed as a rate per month. New monthly deductible factors, a new minimum Aggregate Deductible and new rates are established at each contract renewal. Aggregate Stop-Loss: Aggregate reinsurance is designed to put a cap on the total claims for the entire group (under the Specific Deductible)