7 ways to save on compensation for workers with leasing services for employees

If you're like most employers in today's economy, you're probably trying to reduce costs for business - starting with those that least effect the day to day operations. For many workers compensation costs for employers may be the most expensive part of running their business.

What many employers do not realize (but are rapidly discovering) is that there is a better, less expensive to purchase insurance of workers' compensation, compared to the old traditional method. Employee leasing, aka - PEO services offer benefits and advantages of the voluntary market may not. Here are just a few.

1. Initial deposits - Unlike traditional policies that require a deposit of 20-30% to start your policy, many leasing companies to offer employees no money down - pay as you go plans. The initial costs of getting a business off the ground can be disconcerting. The advantage of a cash flow with no money down plan can save help save thousands of dollars.

2. Discount - Imagine paying 50% less on insurance than workers at the rate of the state. The more competitive you are in the race. Typical savings average around 22%, but the big savings are common in states with a high percentage of employers in the assigned risk pools and soaring rates of work comp. Because an employee leasing company is the purchase of insurance for employers so many - the cost difference can be dramatic.

3. High experience modifier (E-mod) - If you've had some workers comp claims' that have caused an increase in your voting experience - an employee leasing company could potentially save you thousands of dollars. An employee leasing company shall not follow the procedure voluntary markets to use your evaluation, where the rate - the rate. They will look at your entire history and many times offer a significant reduction in interest rates so as not to be trapped - or suffer from years of payment of additional premiums.

4. No expenditure in state taxes - How annoying is to see the terms of your policy every year a few hundred dollars (sometimes more) is borne by the State, for the privilege of having insurance! Most leasing companies' employees to pay anything to start. No cost of terrorism, state spending costs - Nothing!

5. Claims management - Have you ever had an employee file a fraudulent work comp claim against you? If you have, you know how frustrating it is to have someone to act and to sit down with cash in because the carrier's traditional claims management and investigation of fraudulent claims can be weak at best, since you're the one who will end up paying more. The employee leasing company has more incentive to follow-up, communicate and close requests as soon as possible - it is their policy, too!

6. Time to deal with checks - Dealing with work comp audit is time consuming and frustrating. A process that does not make sense sometimes. When you are bundling services wages and compensation of workers with an employee leasing companies, insurance premiums are deducted and precisely controlled each period so you'll never hear the word - audit. You will also have to not worry about an unexpected premium bill.

7. There are no cancellation fees or taxes - with a pay as you go workers' compensation plan, there is never a need to check back or cancellation fees. If you press the lottery, sell your business, or who even had to close up shop for an unforeseen reason, pay as you go means just that - when you're done you're done!

For more ways to save on workers' compensation and other employee costs in relation to us by calling 1-888-582-8388 -