What is a PEO?

  • Professional Employer Organizations pool together small and medium size businesses to provide benefits and services not usually available to organizations of this size. Few, if any, small businesses can afford a full-time staff consisting of an accountant, a human resource professional, a lawyer, a risk manager, a benefits manager and a manager of information services. PEO’s offer this expertise to their clients.

What are some of the advantages of PEO’s?

  • Employee Benefits
    • One of the main advantages of pooling is that a PEO is able to provide large group benefits at large group costs. By pooling the employees of many businesses together, the PEO is able to provide access to the same level and quality of benefits and retirement plans offered by large corporations. These benefits include medical, dental, vision and life and disability insurance. Additionally, PEO’s are able to offer employees valuable voluntary programs such as: voluntary benefits, pre-paid legal, TrasitChek, pet insurance, Flexible Spending Accounts, and discounted movie, theme park and sports tickets.
  • Human Resources
    • Most business owners do not have the time, training, expertise and financial resources to effectively handle human resources, training, payroll and accounting, regulatory compliance, risk management and employee benefit programs. PEO’s provide expertise in all of these areas while eliminating or limiting the employer’s liability for providing these services and programs to their employees. A PEO can help with guidance concerning terminations, as well as any obligations to comply with employment and workplace laws that are constantly changing. Many PEO’s provide Department of Labor compliant customized employee handbooks outlining policies and procedures for all employees.
  • Workers Compensation
    • PEO’s often provide companies with more favorable rates on workers’ compensation by offering policies not typically available to small employers and by managing the administration, claims and audit aspects of the coverage. PEO experts also use their experience to root out fraudulent claims that can end up increasing Worker’s Compensation costs year after year.
  • Payroll
    • Through the utilization of the latest payroll technology, PEO’s provide payroll services to a wide range of employers. Most PEO’s can provide job costing, union reporting or an array of payroll deductions. Direct deposits to multiple accounts, garnishments and Child Support Deductions and Remittances are services that are typically provided. The PEO’s payroll experts are current with the latest tax regulations for federal, state and local government.
    • Employment Practices Liability Insurance
    • PEO’s provide access to affordable and valuable insurance protection from employment related lawsuits that most firms need but can not afford.

Who is Prestige and what sets them apart?

  • Prestige Employee Administrators Inc., was founded in 1998 as an outgrowth of a firm specializing in providing employee health and benefit programs and other insurances to businesses. Building upon that expertise, Prestige added a comprehensive array of services including state of the art payroll processing as well as innovative management of workplace safety risks, workers compensation and unemployment claims processing.

What other services does Nexus Benefit Consulting offer?

  • In addition to working with a PEO, Nexus works with companies all over the country to establish and execute their supplemental benefits. By working with various insurance companies The Madison Benefit Group is able to fine tune the exact policies which will most effectively meet clients needs. Currently Nexus acts as the one source for supplemental benefits for companies ranging from 5 employees to over 1000.
  • Personal insurance planning is also available in terms of Life Insurance, Annuities and Long Term Care. A personal consultation is available one on one with owners or employees to assess their personal coverage needs.

If you would like to set up a meeting or receive additional information please contact us at the following:

Nexus Benefits Health Insurance