Anderson Business Advisors Podcast

An In-Depth Look with PEOs


Listen Later

Remember when you used to thumb through actual yellow and white pages of a phonebook to find people and services? In this episode, Toby Mathis of Anderson Advisors talks to Fred Lovingier, District Manager for Insperity, a professional employer organization (PEO). Fred has more than 15 years of management, marketing, and sales experience. 

Highlights/Topics: 

  • What is a PEO? Outsourcing firm that provides services to small- and medium-sized businesses
  • Why work with Insperity? Buying power and outsourcing 
  • What are the two main reasons why you should consider a PEO? Stabilize high volatility in healthcare costs and employee liability
  • What are business owners’ top concerns? Don’t want to deal with other people
  • Does Insperity offer employees access to a group health plan at the same price as other big companies? Yes, just like Walmart, Coca-Cola, and UnitedHealthcare
  • What about workers’ comp benefits? Workers’ comp is based on a safety rating or mod number addressed as so much per hundred of payroll
  • What’s Insperity’s rule of thumb? Vetted company that becomes a client, automatically reduces its current workers’ comp 10%; dangerous fields costs more money
  • Whenever a PEO charges or consumes savings, what happens? Buying power is used to create offsets that help make the cost of doing business tolerable
  • What if business owners carry health insurance? Most business people know that they’ll get a new rate, typically higher, every year
  • What’s typical misconceptions about who’s liable? It's almost impossible to get a group plan these days; but you can go in combination with a group
  • Can people be fired or released? Yes, but they may maintain direction and control of their company and receive onboarding/offboarding assistance
  • What's the magic number or sweet spot for a PEO? Groups between five and 5,000
  • How much does it cost? Typically, it’s less than the cost of hiring somebody, but the quality is significantly higher
  • What is Insperity’s vision and mission? Give people the support and tools they need to grow and help businesses succeed for communities to prosper
  • How long do Insperity’s clients stay? On average, clients stay 6.8 years, which represents an 80–85% renewal rate each year
  • Resources

    Fred Lovingier on LinkedIn

    Insperity

    Fred Simonds's Website

    Fred Simonds’s Office: 10845 Griffith Peak Dr., Suite 500, Las Vegas, NV 89135

    Fred Simonds’s Phone: 702-470-1948

    Fred Simonds’s Mobile Phone: 702-203-0063

    Fred Simonds’s Fax: 866-422-1927

    Yellow Pages

    Family and Medical Leave Act (FMLA)

    UnitedHealthcare 

    Workers’ Comp

    COBRA Management

    National Association of PEOs

    Toby Mathis

    Anderson Advisors

    Anderson Advisors Tax and Asset Protection Event

    Anderson Advisors on YouTube

    ...more
    View all episodesView all episodes
    Download on the App Store

    Anderson Business Advisors PodcastBy AndersonAdvisors.com

    • 4.8
    • 4.8
    • 4.8
    • 4.8
    • 4.8

    4.8

    79 ratings


    More shows like Anderson Business Advisors Podcast

    View all
    The Real Estate Guys Radio Show - Real Estate Investing Education for Effective Action by The Real Estate Guys

    The Real Estate Guys Radio Show - Real Estate Investing Education for Effective Action

    713 Listeners

    BiggerPockets Real Estate Podcast by BiggerPockets

    BiggerPockets Real Estate Podcast

    16,786 Listeners

    Real Wealth Show: Real Estate Investing Podcast by Kathy Fettke / RealWealth

    Real Wealth Show: Real Estate Investing Podcast

    400 Listeners

    Rental Income Podcast With Dan Lane by Rental Income Podcast

    Rental Income Podcast With Dan Lane

    823 Listeners

    Passive Real Estate Investing by Real Estate Investing with Marco Santarelli, Investor and Entrepreneur.

    Passive Real Estate Investing

    972 Listeners

    Main Street Business by Mark J Kohler and Mat Sorensen

    Main Street Business

    591 Listeners

    Lifetime Cash Flow Through Real Estate Investing by Rod Khleif

    Lifetime Cash Flow Through Real Estate Investing

    1,400 Listeners

    Tax Smart Real Estate Investors Podcast by Hall CPA

    Tax Smart Real Estate Investors Podcast

    413 Listeners

    The WealthAbility Show with Tom Wheelwright, CPA by The Rich Dad Media Network

    The WealthAbility Show with Tom Wheelwright, CPA

    515 Listeners

    Real Estate Investing with Coach Carson by Chad Coach Carson

    Real Estate Investing with Coach Carson

    610 Listeners

    Ken McElroy Show by Ken McElroy

    Ken McElroy Show

    724 Listeners

    BiggerPockets Daily by BiggerPockets

    BiggerPockets Daily

    330 Listeners

    PassivePockets: The Passive Real Estate Investing Show by PassivePockets, Jim Pfeifer, and Left Field Investors

    PassivePockets: The Passive Real Estate Investing Show

    137 Listeners

    On The Market by BiggerPockets

    On The Market

    898 Listeners

    The David Greene Show by David Greene

    The David Greene Show

    689 Listeners