Offering Employee Benefits to Your Team
A straightforward guide for Colorado small business owners, laying out your options in plain language so you can make an informed decision.
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What’s Inside
The three main ways to structure a plan
There is no single right answer here. The best structure depends on the size of your group, the health of your workforce, your budget, and how much predictability you want. The guide walks through how each one works.
Fully Insured
You pay a fixed monthly premium and the carrier takes on all the risk. Your cost is predictable month to month.
Best for: employers who want simplicity and a predictable cost with no claims risk.Level Funded
A set monthly amount with stop loss protection. If your group’s claims come in low, you may receive a refund of the difference.
Best for: a relatively healthy workforce that wants potential savings with protection.PEO
A co-employment arrangement that handles payroll, benefits, and HR compliance, with access to plans usually reserved for bigger companies.
Best for: growing businesses, often 20 to 75 employees, that want to offload HR.Beyond Medical
The rest of a benefits package
Health insurance is usually the centerpiece, but a complete package often includes more. You do not have to add everything at once. Many first time employers start with medical and build from there.
Best Price Guarantee
Fully insured small group health insurance premiums are filed the Colorado Division of Insurance, so whether you get your small group plan through Colorado Health Insurance Brokers, through another agent/broker or directly from the carrier, you’ll pay the same monthly premium for the same plan. We work to get you the lowest rates on level funded and PEO plans as well.
Let’s talk it through
The best next step is a no cost conversation about your business and what you are trying to accomplish. We’ll help you sort through the options and find the structure that fits.
Book a Free Benefits Conversation