how a peo helps with your health insurance.
A Professional Employer Organization (PEO) enables small-medium size businesses to get access to Fortune 500 health insurance at affordable rates. PEOs work with the nation's leading health carriers including Aetna, Blue Cross Blue Shield, Cigna, United Healthcare and Kaiser Permanente.
fortune 500 health insurance plans
PEOs give you access to Fortune 500 Health Insurance plans that are not available to small-medium size businesses. Their plans are with the nation's largest carriers and utilize national networks to help you attract and retain the best employees.
health insurance administration
Offering Health Insurance to your employees is just smart business, but it comes with the burden of enrollments, administration and COBRA management. In a PEO these burdens are eliminated, because the PEO handles all of it for you.
renewals and negotiating
Every year your Health Insurance plans renew and typically that means you have to reduce the benefits you offer. In a PEO the renewals are typically lower than the open market experience and instead of negotiating your renewal, the PEO handles it all for you.
different types of health insurance
There are five different types of Health Insurance that is offered by health insurance providers. Below you can learn how each type works.
HMO / Health Maintenance Organization
With an HMO plan, you must choose a Primary Care Physician (PCP) from a network of local healthcare providers who will refer you to in-network specialists or hospitals when necessary. All your care is coordinated through that PCP. HMO plans require referrals and have no out of network coverage.
EPO / Exclusive Provider Organization
An EPO plans combine the flexibility of PPO plans with the cost-savings of HMO plans. You won't need to choose a primary care physician, and you don't need referrals to see a specialist. EPO plans do not require referrals and have no out of network coverage.
PPO / Preferred Provider Organization
A PPO plans give you flexibility. You don’t need a primary care physician. You can go to any health care professional you want without a referral—inside or outside of your network. PPO plans do not require referrals and have out of network coverage.
POS / Point of Service
A POS plan, is a type of managed care health insurance plan in the United States. It combines characteristics of the health maintenance organization (HMO) and the preferred provider organization (PPO). The POS is based on a managed care foundation—lower medical costs in exchange for more limited choice. POS plans do not require referrals and have out of network coverage.
HDHP / High Deductible Health Plan
A HDHP is a health insurance plan with lower premiums and higher deductibles than a traditional health plan. Being covered by an HDHP is also a requirement for having a health savings account. HDHP plans do not require referrals and usually have out of network coverage.