What is Co-Employment?
When working with Moda Health Solutions, your practice enters into a shared employment relationship. We become the "Employer of Record" and are responsible for:
- Benefit administration including medical, retirement and Paid Time off (PTO)
- Employee handbooks, job descriptions, and policies
- Hiring, on-boarding and release of employment
- Federal and state compliance
- Payroll and tax filing
Your office practice continues to be responsible for:
- Business operations
- Day-to-day activities
- Focusing on growing your practice
How would my team benefit from a Professional Employer Organization?
Your employees receive comprehensive benefit administration including medical insurance, retirement plan options, flex spending accounts for medical and daycare expenses. Your team also receives the same PTO (paid time off). Your employees will be supported by a professional human resources team to assist them with all of their administration needs. There's no need for you to deal with all the employment related issues that arise. We talk with your employees and manage all employee-related matters.
What are the costs?
There is an initial fee of $1,500 to cover implementation. The initial fee covers our time for introduction meetings, your practice analysis, our time with you, benefit enrollment, setting up payroll, the employee files and customization.
You pay the same for employee payroll and taxes as before. Your costs for benefits are lower than if you offered a comparable package to the team because they are part of a very large group. The monthly charge for Moda Health Solutions is 7.5% of total payroll. However, keep in mind that your actual cost is less as we will illustrate through your customized practice analysis.