PEO/GMS Story
The 3 main reasons companies use PEOs
What is:
$2.95/EE/month
The Addendum A verifies these 2 items
Their rate percent and deductible amount
GMS rents out this network
Cigna PPO
For a client to gain an HR account manager they need to have this.
Over $12,500 in admin or stronger package
A co-employment relationship is made by doing this
Running our clients payroll through our Federal ID
GMS Connect can communicate with outside software through this process
Import/export CSV/excel sheet reporting
We need these documents to quote worker's compensation
-Declaration Page
-3 years of Loss runs
-Signed Acord 130
(supplemental forms as needed)
2 Benefits of utilizing GMS' 401k plan
-multi-employer plan with over $400M in assets
-.26% asset fee
-GMS takes on fiduciary, admin, 5500 filing
-access to a financial advisor
One of the first things an HR AM will do when they get a new client
HR Analysis (HRA)
PEO employment growth is this much higher than the rest of the US economy
What is 16x higher
The rate GMS charges for Arizona's State Unemployment Rate
5.5% (for the first $8,000 an employee makes/calendar year)
Our Risk Incentive gives what kind of credit incentive and is only available through which carrier
Up to 20% back of premium based on claims for the year (0%-5% losses- 20% Back
5%-15%losses - 15% Back
15%-30% losses - 5% Back)
SUNZ insurance only
Name 3 ways our MHP is unique
-we own and administer it
-we're the only PEO to have their own plan
-not available to brokers
-we quote by taking a deeper dive into the groups health (vs. age, zip, smoker status)
-we handle administration
-we group everyone to help keep renewals steady
This is the median pay for an HR Manager in the US
$104,000/year
GMS has about this many Clients and Worksite Employees in this many states
Over 3,500 clients with over 50,000 worksite employees in 49 states
Work Opportunity Tax Credit screens for this and allows a credit up to this amount per new hire
Federal Tax Credit available up to $9,600 for hiring certain target groups (veterans, SNAP recipients, Ex-felon, etc)
GMS partners with these 3 insurance carriers
SUNZ, Key Risk, UWIC
Name 2 differences between our traditional and HSA plans.
Name 3 things EPLI coverage applies to
1. Discrimination
2. Sexual Harassment
3. Wrongful employment actions
4. Retaliation
We show the GMS Blueprint with all 4 sections to illustrate this
Streamlining processes because all the departments talk to each other
Implementation takes this amount from the set up fee for new clients
$70/employee with a minimum $500
Name 4 of the 8 industries that require supplemental forms
-agriculture
-aviation
-cannabis
-staffing
-roofing
-towing
-transportation
-tree trimming
Prospects need to provide these documents for non-virgin HC groups with over 20 EEs enrolled
-dependent level census
-HC invoice
-current plan designs and rates
-renewals (preferably last 2 years)
This percent of small businesses could not continue operating if they were hit with ransomware (covered by our cyber insurance)
75%