A Professional Employer Organization- FAQ. Hope this FAQ is a helpful resource as so many Employer groups have been asking about the use of Professional Employer Organization to handle their full HR, payroll and insurance solutions.
Q | What is a PEO, ASO, HRO and why should I care about them?
A PEO is a Professional Employer Organization a single source provider of integrated services which enable business owners to cost-effectively outsource the management of human resources, employee benefits, payroll and workers’ compensation and other strategic services, such as, recruiting, risk/safety management, and training and development through co-employment. It does this by hiring a client company’s employees, thus becoming their employer of record for tax purposes and insurance purposes.
An ASO is an Administrative Services Organization provides business transaction-based human resources services such as support with payroll, benefits, and employee data management. An ASO solution differs from a Professional Employer (PEO) model because there is no co-employment – the employment relationship is maintained by the client.
HRO is Human Resource Outsourcing in an HRO model, the solution focuses on managing the entire HR business process, unlike the Administrative Service (ASO) model which focuses on the transaction. An Employee Call Center is inherent to the solutions within an HRO offering. An HRO solution differs from a Professional Employer (PEO) model because there is no co-employment – the employment relationship is maintained by the client.
Q | What services and solutions does a PEO offer?
A PEO offers a complete suite of services and solutions; through our strategic partnerships we have established relationships with the industry leaders in their respective markets. We offer solutions’ in the following areas:
- Payroll and Human Resource Administration
- Human Resource Management Systems (HRMS)
- Benefit Plans and Total Benefit Management
- COBRA, HRA, HSA, FSA Management and Implementation
- Commuter benefits and Health and Wellness programs
- Ancillary coverages (dental, vision, LTD, STD, etc.)
- Worker’s Compensation and Claim Management
- Property and Casualty (business and personal)
- Self-Insured Plan development and implementation
- PEO, ASO, & HRO and Human Capital Outsourcing
- EPLI and Risk Consulting
- 401-k plan designs and TPA services and financial planning
- Employee Assistance Programs
Q | I have heard of Human Resource Outsourcing, what is the advantage to dealing with Millennium Medical Solutions versus a company directly?
A| The advantage is that while working with one company can provide a solution, however they only can quote their respective services. Millennium Medical Solutions works with numerous Human Resource Outsourcing organizations; we enable you to efficiently compare all providers through one simple application. Since there is no fee for our service, we offer an unbiased comparison and aren’t tied to one specific provider, leaving us the ability to objectively compare all solutions with your best interest at the core of solution.
Q | What does human capital mean?
A | Human Capital refers to the management of a company’s most valuable asset, their employees. At Millennium Medical Solutions we refer to human resources as human capital.
Q | What if I already work with a PEO, ASO, or HRO provider?
A | That in fact is many times the case; however our platform has every PEO, ASO, and HRO provider in one location. We scoured the market to find the best in breed in the PEO, ASO, and HRO market and our strategic partnerships for a la carte services are industry leaders. Our proprietary software allows you to shop the entire PEO, ASO, and HRO market in one submission, versus going it alone and collecting quotes from each individual provider. Many of our current clients were with other providers prior to working with us; we ensure that your current solution is giving you the best deal. If you current solution is the best fit for you, then we will advise of that as well.
Q | Who are the providers you work with?
A | Millennium Medical Solutions e works with the leading providers, some national in scope and others regional in scope. We are constantly evaluating and adding new providers, so our vendors are currently growing daily. For a list of our current providers we invite you to visit our strategic partners’ page to learn more about our providers.
Q | What are the costs for your services?
A| For our PEO, ASO, and HRO services, there are no fees, we are compensated by our strategic partners. Very few of our services actually have a fee, contact us for more information and we’ll be happy to tailor a solution to fit your needs and breakdown all the costs associated with our services and solutions.
Q | If I am a PEO, ASO or HRO provider and would like to be a part of Millennium Medical Solutions, whom do I contact?
A Millennium Medical Solutions is always looking to add and build strategic partnerships, to learn more, feel free to contact us at [email protected].
Q | If I am interested in learning more about PEO, how can I get more information?
A | Millennium Medical Solutions is all about options; you can call us, email us or just add our RSS feed. Our number is (914)207-6161,[email protected]or 200 Business Park Dr, Suite 200 Armonk NY 10504 If you have a question that was not answered here or have additional questions, please feel free to contact us and we’ll be happy to answer your questions.