bjames
New Member
Hi Everyone,
I am new to the forum. The posts have been great with lots of good information. I can offer my experience in the industry from various perspectives. I have 10+ years selling payroll, WC and group health on the ASO side.( I am licensed in health and WC and I concentrated heavily on payroll) . I sent a tremendous amount of business to my PEO brokers over the years. On the payroll side I could easily write a 1 man payroll or a 1000 man payroll... we had an in house insurance agency which did our WC and Health. (it was convenient but they couldn't always write the WC). So I sent business to a couple of local PEO brokers and they could usually place it and they paid me. I spent countless hours unbundling PEO costs and I do agree with some of the posts above that PEO is expensive although I made a decision to go to work for a PEO this year for various reasons. I am with Oasis Outsourcing. Its different because I can carve out the WC for my insurance agents that have clients who want a PEO and I can also carve out the health as needed. Speaking from an insurance agents perspective, I think its necessary to have a PEO in your toolbox. I have P&C agents that have large commercial auto policies on their books that use a PEO. You are doing a disservice to your client if you can't provide them with the name of a PEO that has a lower admin fee or better products. (I am not saying that's me- I am just saying) I could use a few more brokers or insurance agents that need a PEO but I am also very aware that PEO is not for everyone. Also in response to a post above, many payroll companies have an insurance agency in house and yes...they share information. At my previous company, it was a tremendous asset. We could easily set up pay as you go for WC and the health deductions were a breeze. I would be cautious with your book of business any time you form a broker/agent relationship. I would be happy to answer any payroll/PEO questions so please send them my way. Just adding my 2 cents and I enjoy reading the posts.
Bev
I am new to the forum. The posts have been great with lots of good information. I can offer my experience in the industry from various perspectives. I have 10+ years selling payroll, WC and group health on the ASO side.( I am licensed in health and WC and I concentrated heavily on payroll) . I sent a tremendous amount of business to my PEO brokers over the years. On the payroll side I could easily write a 1 man payroll or a 1000 man payroll... we had an in house insurance agency which did our WC and Health. (it was convenient but they couldn't always write the WC). So I sent business to a couple of local PEO brokers and they could usually place it and they paid me. I spent countless hours unbundling PEO costs and I do agree with some of the posts above that PEO is expensive although I made a decision to go to work for a PEO this year for various reasons. I am with Oasis Outsourcing. Its different because I can carve out the WC for my insurance agents that have clients who want a PEO and I can also carve out the health as needed. Speaking from an insurance agents perspective, I think its necessary to have a PEO in your toolbox. I have P&C agents that have large commercial auto policies on their books that use a PEO. You are doing a disservice to your client if you can't provide them with the name of a PEO that has a lower admin fee or better products. (I am not saying that's me- I am just saying) I could use a few more brokers or insurance agents that need a PEO but I am also very aware that PEO is not for everyone. Also in response to a post above, many payroll companies have an insurance agency in house and yes...they share information. At my previous company, it was a tremendous asset. We could easily set up pay as you go for WC and the health deductions were a breeze. I would be cautious with your book of business any time you form a broker/agent relationship. I would be happy to answer any payroll/PEO questions so please send them my way. Just adding my 2 cents and I enjoy reading the posts.
Bev
