October 31, 2013
Tiger-Consulting a boutique firm supporting satellite operations for 175+ enterprises with HR, payroll, PEO (employer of record) and business outsourcing services, proposes its third-party insurance option as an answer to the American healthcare challenge.
“Today is Halloween in the U.S.-a holiday all about having fun scaring and being scared-so there is no more perfect day to announce a business solution to what is frightening America today: healthcare,” said Tiger-Consulting CEO, Neil Satterwhite.
As America faces its lowest employment participation rate in 30+ years, more U.S. businesses are utilizing independent contractors to cut costs. Meanwhile, more unemployed Americans are turning to freelancing either part-time or full- time to make it by. Tiger-Consulting can help both with one very simple solution: Third Party Insurance.
“As a PEO supporting 175+ enterprises mostly based in the U.S., we encourage businesses to hire freelancers through third-party employment services such as Tiger-Consulting. It can protect businesses while offering contractors with employee-like benefits at no added cost to the company for which they work. Sound too good to be true? It’s not,” added Satterwhite
American employers must withhold income taxes, withhold and pay Social Security and Medicare taxes, and pay unemployment tax on wages paid to employees. Businesses don’t have to withhold or pay any taxes on payments to independent contractors. Under this model, freelancers are responsible for their own healthcare and unemployment insurance, which is costly.
Tiger-Consulting’s team members-internal staff as well as contractors hired to support satellite operations for the firm’s enterprise clients-enjoy a hybrid contractor/employee model, which provides contractors access to traditional employee benefits. Clients retain top freelance talent by offering them added protection and incentive without making benefit contributions.
Contractors pay into group policies under Tiger-Consulting’s umbrella, which significantly reduces the cost freelancers would otherwise pay for individual employment insurance or healthcare policies. When a contractor is between jobs, they can remain technically employed by the firm thereby maintaining their contributions to unemployment/health insurance.
If a contractor is laid-off or terminated, they can even collect unemployment pay.
“It’s the best of both worlds-a policy that protects the security of freelancers but one that your business doesn’t not pay into, and one that staff can take with them like a 401K,” said Satterwhite. “Contractors enjoy flexibility, higher hourly rate AND predictable benefits while our clients can confidently continue to hire and expand to new territories, even in uncertain times.”
Tiger-Consulting can serve as a third-party employer for enterprises both domestically as well as internationally. To learn more about the firm’s full suite of business outsourcing services, particularly its specialty of supporting satellite operations across Asia-Pacific, contact us today.
Tiger-Consulting is committed to making expansion and management of Asian and
UAE operations easier for international businesses. Tiger Consulting’s HR,
Payroll, employment and business support services are managed by experienced
teams on the ground in 16 countries: Australia, Cambodia, China, Hong Kong,
India, Indonesia, Korea, Malaysia, New Zealand, Philippines, Singapore, Taiwan,
Thailand, Vietnam, UAE and USA. Through strategic partners, the firm also
supports clients in Europe, South America, and other key markets.
Media Contact: Mercy Mildener
T: +(66) 02-6846909