Legislation relating to workers compensation has evolved in recent years, and this evolution has led to a softening in the market for workers compensation management services.

The situation – in which Florida has announced a 50% reduction of the assessment rate for the Workers’ Compensation Administration Trust Fund – has real implications for Florida workers’ comp laws will be very heavily fined. employers. It presents an opportunity for considerable savings for those seeking workers’ compensation insurance. But the rate reduction also carries a big stick, which is that employers who are not compliant with

Any business owner looking to streamline his operations, maintain compliance, and raise productivity overall will be very interested in these developments. They affect a company’s bottom line very clearly. As the market for workers’ comp insurance softens, which is inevitable given the new lower assessment rates, companies will find greater opportunity to take advantage of insurance rate competition. PEOs are in a special position in this situation, wherein they are going to be able to serve clients even more effectively now, and so if your company has previously considered looking into PEO but has put it off as being too complicated a process to tackle, now would be an ideal time to sign on.

Independent workers compensation insurance carriers will often remove themselves from a state or reduce coverage availability if rates get too low and they feel there isn’t enough reason for them to continue to operate in that location. By contrast, PEOs, which tend to be large, stable operations, remain large, and become even more stable. Many PEOs are their own carriers, and they can control prices and availability much more flexibly, and with more sensitivity, than an independent carrier. The competition between PEOs, because of their flexibility, results in better pricing for clients – companies such as yours.

FLemployeeleasing maintains relationships with licensed professionals working in the property, casualty, health, and life insurance industries. The power of these relationships with voluntary insurance carriers combined with our workers’ compensation insurance professional contacts, mean that FLemployeeleasing can provide your company with unique and very affordable services. In circumstances where it seems like an ASO is a better fit than a PEO, we can still help. Eith way, because of our good relationships with so many carriers, we can offer a platform with a minimal down payment that is very affordable and requires no audit.

FLemployeeleasing has the power to arrange for you to be relieved of payroll duties, insurance plan selection and billing, 401K planning, bill reconciliation, and all enrollments – and we can do this even if you’re not comfortable with a formal co-employment relationship. If you want a PEO, we’re there for you; if you want an ASO, we’re there for you – but best of all, we can arrange for you to enjoy a hybrid plan that gives you exactly what you need.

We have a very simple belief that is at the heart of everything we do: Our client’s best interest is our best interest. We are here to assist our clients and their companies. This means that we are ready to take advantage of new developments in the marketplace that you can benefit from. A situation like workers compensation rates going down is something we see immediately as a huge opportunity, while other organizations would see it as a reason to get out of town. While it’s true that we can’t predict the future at FLemployeeleasing, we can say confidently that workers comp plans and their connections with PEO/ASO are not going to evaporate anytime soon. However, companies will want to find better ways to make arrangements for such insurance plans, and PEO/ASO will be among the best plans for a company in Florida. Now is a great time to take advantage of FLemployeeleasing’s power and skill.