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How to contain employee benefits costs (and why most businesses struggle)

Insperity

per hour, per employee, for health-insurance costs, according to Sept. In 2021, employer expenses for health insurance are expected to rise by 3.9 In 2021, employer expenses for health insurance are expected to rise by 3.9 Why benefits costs keep rising – and are more challenging for small- to mid-sized businesses to control.

Insurance 321
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Tips and Resources to Scale Your Small Business

Success

“Every business has different startup costs, but they all have one thing in common: having a financial cushion,” says Bob Marshall, the business growth and strategy executive for the Small Business Development Group at Wells Fargo Bank. You need to know what your costs will be and whether your business is scalable.”

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6 common PEO myths debunked

Insperity

Myth 1: “I’ll lose control of my business.”. Thus you might fear that entering into a co-employment scenario with a PEO means you’ll have to give up decision-making power in your business as well as the ability to operate it the way you want. You’ll also continue to control and run your core business.

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How Health Care Reform Helps People and Small Businesses Pay for Coverage

Insperity

Buying health insurance can be a costly endeavor. Most Americans must have health insurance or face a tax penalty. Purchase coverage through a state or federal health insurance marketplace. So we’ve got premiums under control, but what about deductibles, copayments and other out-of-pocket costs? Copayments. Coinsurance.

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A return-to-work process after an extended employee absence

Insperity

Reduce costs associated with workers’ compensation , disability and medical insurance (if an employee can return to work faster). Whether you’re a large, mature company or a fledgling small business, it’s critical (and the law) to communicate safety- and health-related guidelines and procedures to employees. Summing it all up.

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5 key co-employment nuances that employers must understand

Insperity

Said another way, determining which individuals are employees (and receive W-2s) and which are independent contractors (who receive 1099s) is a responsibility reserved for the business – not a PEO. Many PEOs provide integrated systems that work together to support your business. Risk mitigation for small businesses.

Payroll 174
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Business owner beware: FLSA compliance and personal liability

Insperity

Being held liable for years’ worth of back wages and penalties could easily cost you and your business hundreds of thousands of dollars per incident. And if you think insurance can shield you from such expenses, think again. Supervision and control of work schedules. Control or maintenance of employment records.

Legal 187