Both an insurance broker and a professional employer organization (PEO) can provide expertise on navigating the employee benefits landscape.
However, PEOs offer more general benefit help and handle health insurance, retirement savings, and payroll, among other HR concerns. Insurance brokers, on the other hand, focus on health insurance.
Depending on what kind of benefits administration you need, either an insurance broker or a PEO may be a better fit for your business.
This article breaks down the similarities and differences between PEOs and insurance brokers to help your search. For more information about the kinds of benefits you might offer workers, read our study on employee benefits.
What Do PEOs and Insurance Brokers Have in Common?
PEOs and insurance brokers are like two kinds of HR outsourcing.