FREQUENTLY ASKED QUESTIONS
PEO stands for Professional Employer Organization. The purpose of a PEO is to help you with some of the responsibilities of being an employer. They help you delegate the responsibilities of HR, employee benefits, payroll and workers’ compensation. This allows you to control the direction of your management and employees and focus on the things that make your business more profitable.
BIM Consulting Group provides services for business of all sizes, from 5 to 1000 employees. We will help you realize the cost savings in outsourcing HR administration costs for workers’ compensation insurance, employee benefits and HR administration across a bigger pool of employees.
There are a number of variables that go into building a quote. Businesses typically see cost savings compared to the way they are currently doing things. For example BIM Consulting Group can help your company lower your workers’ compensation premiums and assist with risk management to improve safety performance. More importantly, we can save clients a lot of time by taking on the workload of payroll, HR and benefits administration, especially group health insurance
Through the use of PEO’s BIM Consulting Group bundles services for payroll, HR and optional employee benefits with workers’ compensation insurance coverage to form a co-employment relationship. The co-employment model is the basis for saving money on workers’ compensation insurance, and that is why it is not offered on an a la carte basis. That is one way a PEO is different from insurance companies. It starts with payroll services, and then your employees are covered by workers’ compensation insurance. The benefits of this include lower rates, added administrative support for payroll and HR, time savings, and deep resources to stay safe and compliant.
When it comes to health benefits, will I be able to choose from a variety of carriers or am I limited to one option?
BIM Consulting Group offers a master health plan along with a full range of other carrier options. We are able to customize a benefits program that fits your needs and budget as part of our service. If your company already has a plan, then BIM Consulting Group can administer that for you as well. We also offer retirement savings accounts and a number of other health benefits that employees can select without any employer contributions such as dental and vision plans.
Your employees will have a host of voluntary benefits available to them at no cost to you when your company partners with BIM Consulting Group. The options include: dental, vision, long and short-term disability, critical illness, cancer policies, flexible spending accounts and more. We also offer a 401(k) plan with no setup fees or match required. Other added benefits include perks like discounted theme park and movie tickets and access to discounted services for pets.