A strange noise wake you up. The room is very hot and you’re sweating. The clock flashes MIDNIGHT, a sure sign of a power outage. You see that your window is open. When you poke your head outside, the air is cool. The neighborhood sits in misty silence. The early morning sky is the only source of light, dimly bathing the street in a cold glow.
You hear it again, the strange sound that woke you. The distant scrape of metal on pavement. Up the street you see movement. It’s gone before you get a good look at it. It looked almost like a tall man dragging a shovel. A moment later, a dog barks, and then suddenly falls silent. Unsettled, you close the window. As you turn to go downstairs, you collide into a figure, over six feet tall and wearing a bloody hockey mask, a shovel in his hand…
This sounds like the beginning of a Hollywood horror movie. However, there are many small business owners who are staying awake at night over the REAL horror of how to keep their business open with the rising costs of healthcare, ESPECIALLY those who have between 50-100 employees. [Source: Forbes]
This is because they just learned that they will no longer be considered as a large group. Instead of having lower rates and better plans, they will be forced to be lumped into the increasingly chaotic and skyrocketing rates of small group plans. [Source: Zenefits]
Many small business in the United States have fewer than a hundred employees, and since small businesses employ over 8 million people, this is cause for concern. [Source: Entrepreneur]
If you find yourself in the middle of this real-life horror story, just know that there is a solution. That solution is a Professional Employer Organization, or PEO.
A PEO allows your small group to be put into a large group plan, some with as many as 350,000 employees! Larger groups mean lower rates and more choices. It also means you finally get to sleep at night.
How Rising Healthcare Costs Make American Businesses Less Competitive
Small Businesses at a Glance
ACA to Redefine Small Group Employer in 2016
Note: I work for PEO Select – a fast-growing company that connects businesses all over the United States with a PEO ideal for their needs. peoselect.com
By William Hollar
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Except where expressly indicated otherwise, the postings on this site are my own and do not represent PEO Select’s position, views, strategies or opinions.