What is a Florida Employee Leasing Insurance Policy?

When utilizing one of the many established Florida employee leasing companies, your business leases its own employees back from the leasing provider.  Hence the term "employee leasing".  You still maintain control of your workers and of the day to day operations of your business.  However, your employees are placed on the workers compensation policy of the leasing organization.  Florida employee leasing companies will also assume many of the payroll, insurance, and other non revenue producing human resource duties of your business.  Florida employee leasing companies then report and file payroll related taxes under their own tax ID numbers instead of yours. 

What Advantages are there to Using a Florida Employee Leasing Company?

The main advantages to using a Florida employee leasing company are limiting liability, saving time and in many cases saving money.  Florida employee leasing companies save you time by handling tedious payroll and tax filing duties for your business.  Your liability can be lessened by charging your Florida employee leasing company with such tasks as holding I9 forms on file, submitting new hire reports, keeping section 125 tax plans up to date, and reviewing the accuracy of social security numbers just to name a few.  Lastly, a Florida employee leasing company can save you money by providing insurance at a lower rate than you could get on the standard market and by offering you a lower SUTA tax rate than you could get on your own.  

Is using a Florida Employee Leasing Company Better than Using a Traditional Policy?

There is no answer to this question that fits every situation.  The reality is that there are many cases in which utilizing a Florida employee leasing company is the best fit for both cost and convenience.  There are also numerous scenarios that favor an traditional policy.  The best answer to the question is that you should compare and contrast both options to find the best solution.  The good news is that we'll do all of the leg work for you and present you with options incuding both a traditional policy and a Florida employee leasing company policy.  Then we'll help you decide which is the best solution for your business.