Cost Comparison

Comparative Analysis of Proposals for HR Administration and Insurance Services For:

Current Vendor

SAMPLE CLIENT SIC Code: 8999

Proposed Vendor #1

Proposed Vendor #2

Headquaters Location

406 43rd Street W. Bradenton, FL 34209

100 South Missouri Ave Clearwater, FL 33756

Local Office

2250 Lee Rd. Ste 80 Winter Park, 32789

Same as above

No

Yes

Private

Private

20,000

75,000

Primary Bank

Wachovia

Wachovia

Available Products

CoEmployment / HRO

CoEmployment

13

15

28

Service Model (Team vs. Single)

Team

Single Contact

Payroll Contact/Benefits Contact

Work Comp (Rating)

AIG

Online Benefits Enrollment

Yes

Yes

No

Proposed Healthcare Provider

BCBS

Aetna and United Health Care

Aetna Master Policy

Dental/Vision/LTD/STD

Yes

United Health Care

FSA

Yes

Yes

Yes

Life Insurance

20k included in Health

Yes 15k included in UHC

Yes 10k included in Aetna health

Yes

Yes

FEATURES Website Representative Name/Contact NAPEO Member www.napeo.org

N/A

Stock Information Work Site Employees

37

Years in Business Insurance and Benefits

401k-(vendor sponsored match) EPLI (additional fee)

Yes

Yes ($.80 per EE a week)

Yes ($.80 per EE a week)

Direct Deposit Available (Debit Card)

Yes

Yes

Yes

Support for commision employees

Yes

Yes

Yes

HR admin/claims--Local Presence

Yes

Yes

Yes

Legal Support

Yes

Yes

Yes

Internet Portal w/employee access

Yes

Yes

Yes

PRICING

Rates

Rates

Rates

Fed Salary Cap: 102,000 FICA

Applicable Wages $1,856,000.00

6.20%

6.20%

6.20%

Medicare Salary Cap: 7,000 FUTA

$1,856,000.00

1.45%

1.45%

1.45%

$245,000.00

0.80%

0.80%

0.80%

TX Salary Cap: 9000 SUTA

$36,000.00

2.70%

2.70%

1.63%

FL Salary Cap: 7000 SUTA

$245,000.00

1.10%

1.00%

1.57%

WC 8810FL

$1,370,000.00

0.30%

0.25%

0.18%

WC 8018FL

$200,000.00

3.99%

3.41%

2.46%

WC 3724FL

$167,000.00

5.32%

4.55%

3.29%

WC 3724TX

$119,000.00

7.22%

6.01%

4.36%

N/A

$0.00

$0.00

$0.00

$1,856,000.00

2.00%

1.75%

1.45%

Enrollement Fee/Setup cost Admin Total Payroll Burden

N/A

Burden After Cut-offs Limit

N/A

Total Fees

N/A Savings

$ $

214,308.20 -

$ $

204,849.95

$

193,619.69

(9,458.25) $

(20,688.51)

* Costs - Current Client Costs Important Analysis Assumptions: 1) No individual employee will make more than the FICA max ($102,000). Payroll values are averaged over all employees. 2) Employee turnover will cause SUTA costs to rise since new employees must reach the cap. Due to low turnover in your industry, we have not made any wage adjustments. All amounts are based on projected annual cost.

Administration Your current administrative cost is the cost with South East Leasing. In addition to the substantial cost savings, you will benefit from the extensive knowledge and expertise of our staff. Our goal is to make sure that your company and your employees stay in compliance with all applicable State and Federal laws.

Every business owner should read this report Source

SBA

http://www.sba.gov/advo/research/rs207tot.pdf

It can be difficulet to precisely calculate your company's administrative costs but an accurate estimate is possible. Your Overhead includes the cost of things like payroll processing, computer software, checks, check reconcilliation, court payments and tax deposits. In addition other tasks include W2 preparations, 940 and 941 reporting, workers' compensation reporting, claims administration, audits and hearings. For a full list of required activities and the cost estimate, see Appendix A of this analysis.

Employee Benefits and Health Insurance

Health Insurance costs are not included in this analysis due to the variability of options and plans. Please reference the options and plans attached to each individual proposal for a complete offering.