by David Schek | Feb 27, 2013 | Professional Employer Organization (PEO), Staffing Company, Workers Comp, Workers' Compensation Insurance
Since the first of the year, I have spoken with about 30 staffing owners concerning their workers compensation insurance. After reviewing my notes, I find these calls can be categorized into 3 areas.
1. Panicked staffing owner — Their Agent assumed workers compensation policy was going to be renewed as in years past, only to find that the carrier wants off the policy. The staffing owner must beg the carrier for a 30 day reprieve to shop for insurance– quickly. The Agent admits he does not have too much experience in a challenging worker compensation insurance market and/or identifying a reputable solid Professional Employer Organization (PEO.)
2. Skeptical staffing owner– The agent or Staffing owner has realized that the market for workers compensation insurance has changed and can not believe that they have few options other than a PEO or the State Fund. They are very surprised to find out that PEO’s have also become more selective as to which staffing companies they underwrite now.
3. Upset staffing owner- Staffing owner has an excellent loss history, but the insurance company does not want to renew their policy because they do not want to underwrite staffing anymore. They have been with the same carrier for years, and now feel they are being thrown under the proverbial bus.
In today’s challenging workers compensation insurance market for staffing companies, there is no easy solution for most staffing companies; especially if your premium is under 100K or if you have offices in multiple states. In order to be proactive, contact Work Comp Staffing Solutions TODAY before your carrier cancels you, or your rates go through the roof. We can find a Professional Employer Solution (PEO) solution that is reputable, makes economic sense and is still accepting staffing clients.
Always feel free to call us at 202-302-1212 or visit us at www.StaffingCompSolutions.com to discuss your particular workers compensation insurance situation.
All the best
David Schek
President
StaffingCompSolutions.com
American Staffing Association Member
California Staffing Association Member
Exclusive PEO Broker for the United States Staffing Association
by David Schek | Feb 18, 2013 | Workers' Compensation Insurance
Did you think that the workers compensation insurance system was started in the United States? Or did you think it was started in the early twentieth century? You would be wrong on both accounts.
The earliest record of workers compensation insurance dates back to the Samaria civilization in the year 2050 BC; which was also about the time of the earliest evidence of the written word! In fact, the United States was one of last countries to embrace a legal framework for workers compensation insurance beginning in the 1910’s.
For more startling historical information about the history of workers compensation insurance read more at:
http://www.ncbi.nlm.nih.gov/pmc/articles/PMC1888620/pdf/IowaOrthopJ-19-106.pdf
If you have questions about workers compensation insurance options in today’s dynamic market place for staffing companies, please contact us at 202-302-1212 and visit us www.StaffingCompSolutions.com
All the best
David Schek
President
StaffingCompSolutions.com
American Staffing Association Member
California Staffing Association Member
Exclusive PEO Broker for the United States Staffing Association
by David Schek | Feb 12, 2013 | Healthcare Insurance, Professional Employer Organization (PEO), Staffing Company
As more and more staffing companies are considering using a PEO for their workers compensation insurance, human resource and payroll services, it is important that each staffing company thoroughly review the PEO’s credentials with an experienced staffing PEO broker.
Here are some simple guidelines to follow.
- Make sure they are they reputable and a legally insured PEO.
- Confirm the authenticity of the PEO’s certificate of insurance.
- Find out what services the PEO will offer. Meet the people who provide the services.
- Check the company’s references. Make sure they are paying payroll taxes.
- See if the company is a member of the National Association of
Professional Employer Organizations.
- How does the PEO cover employee benefits? Is it licensed in a particular state? – Are they self funded? – Who is their carrier?
- Review liability for the service agreement. Look at the cancellation process for the PEO and your business
Work Comp Staffing Solutions works with very reputable and experienced PEO’s that can easily pass the strictest due diligence process. For a free quote, please feel free to contact us at 202-302-1212 and visit us at www.StaffingCompSolutions.com
All the best
David Schek
President
StaffingCompSolutions.com
American Staffing Association Member
California Staffing Association Member
Exclusive PEO Broker for the United States Staffing Association
by David Schek | Feb 6, 2013 | Healthcare Insurance, News, Professional Employer Organization (PEO)
Here is a good link dealing with Obamacare distributed by HHS. I have to admit as a staffing owner / consultant for 25 years, I have to shake my head in disbelief about how complicated and cumbersome this new government program seems like it will be for our industry.
http://www.dol.gov/ebsa/pdf/faq-aca11.pdf?utm_source=All+Members&utm_campaign=aa1d38b4c4-FAQs+About+Affordable+Care+Act+Implementation&utm_medium=email
Accepting the fact that it will be a financial burden on most staffing companies, the amount of back office administration for employers has probably doubled as a result of this new program.
I encourage all staffing company owners to review these changes with their accountants and determine whether your current back office structure is adequately prepared to manage this new program and the financial risks associated with its’ new taxes and penalties.
Call me today. I will be glad to introduce you to a Professional Employer Organization (PEO) or Employer of Record Service (EOR) that can facilitate a cost effective solution to dealing with Obamacare.
All the best
David Schek
President
StaffingCompSolutions.com
American Staffing Association Member
California Staffing Association Member
Exclusive PEO Broker for the United States Staffing Association
by David Schek | Jan 31, 2013 | Healthcare Insurance, News
I have been listening to many staffing company owners as they consider ways to minimize their health care (Obamacare ) tax exposure. While the final rules are yet to be written, the Internal Revenue Service (IRS) is already putting out warnings about employers who try to illegally minimize their employee count to save money– either by using a staffing company or by other means.
Here is a good article which discusses this issue. It is a MUST read for all staffing company owners since tax liability for mismanaging Obamacare could be huge.
http://www.thenewamerican.com/usnews/health-care/item/14222-irs-to-employers-there%E2%80%99s-no-escaping-obamacare
Please feel free to contact me to discuss your Obamacare healthcare strategies as well as your workers compensation issues. Utilizing a PEO is a great way to work with an expert human resource partner to legitimately minimize your tax exposure.
All the best
David Schek
President
StaffingCompSolutions.com
American Staffing Association Member
California Staffing Association Member
Exclusive PEO Broker for the United States Staffing Association
