Saving a bundle on workers compensation insurance
Posted by Kristian Svindland on May 1st, 2009
Generally speaking, PEO, or other HR outsourcing solution, can save their clients upwards of 10 to 25% on their current workers compensation insurance.
How can they do that? By better managing the risk management and billing process over a larger group. Again, this is basic economies of scale. If you are a 25 man manufacturing company, doesn’t it stand to reason that you would be better served piggy-backing on a larger company’s insurance program as they have the capacity to manage claims and cut costs?
In addition, most PEO’s, offer pay-as-you-go workers compensation insurance. So the “big deposit” and/or make-up payments at the end of your insurance year are no longer a factor. Giving smaller businesses a more flexible cash flow.
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