Now more than ever, employers need to be agile. Staying ahead of workplace changes may seem an impossible task. Anticipating what employees will value in the future is an important point of differentiation for MidwestHR, a leading certified PEO in Illinois (certified professional employer organization). We constantly evaluate HR products and services to discover which ones keep employees energized and reinforce the corporate culture companies work so hard to create. As a strategic partner, we focus on what impacts the workplace, so clients can remain focused on growing. Is your PEO a proactive partner? Here are some of the ways we help our clients.
Medicine for rising costs
Many employers have exhausted all the standard attempts to slow rising health care costs: increase contributions, decrease benefits, switch PPO networks, increase deductibles and more. These changes bring minimal relief and can trigger employee frustration. Health care cost containment requires a radical new approach. We are committed to providing cutting edge solutions.
A great option for cost containment is level-funded insurance plans. After completing an employee census and medical applications to understand your group’s potential risk factors, a monthly cost is calculated. The “level amount” (meaning it’s consistent) is funded by the company each month and includes:
- Claims allowance Employee medical costs are funded from this account
- Stop-loss coverage premium If claims exceed the claims allowance, the stop-loss coverage kicks in. This eliminates any risk of paying more than the level amount.
- Prescription drug coverage, physician & hospital network and all administration costs
By educating members about healthcare options and associated cost differentials, a level-funded program empowers members to do their part to manage healthcare costs. Some of these plans offer an integrated wellness program, rewarding members with deductible credit and cash incentives for improved health. The group’s annual performance determines if the level amount should decrease, stay the same, or increase the following year.
The human connection
There’s nothing more frustrating than getting stuck in a seemingly endless call center maze. With so many technological advancements, we believe direct contact is still the best choice. That’s why we assign a dedicated benefits specialist who knows the intricacies of your company. Being an accessible partner is our job.
Power without the price
While we know the value of human connection, it certainly doesn’t discount the importance of technology. It has the power to transform your workplace. With the exponential growth of HR software tools, however, choosing the best solution can be overwhelming. Understanding our clients’ unique needs and emerging HR trends, MidwestHR vets providers and invests in the best option. We make sure legacy systems integrate properly so clients can access the same computer power as a large enterprise without the expense.
Commitment to constant improvement
For over 20 years, our team has been meeting regularly to brainstorm what we can do better and how we can evolve to best meet our clients’ needs. For MidwestHR, a leading Chicago PEO in Illinois, this ongoing commitment to improvement is a guiding principle that helps us provide innovative, cutting-edge solutions. We believe it’s one of the reasons 96% of our clients stay with us. Give us a call at 630-836-3000 to learn what is a PEO and how we will be your proactive partner.