ManagedPAY

In the middle of a Thanksgiving night, ManagedPAY faced an unexpected disaster. A fire had broken out in a tenant’s office above them, leaving them facing an uphill battle to restore operations.

Despite these devastating circumstances, the ManagedPAY team did not falter. They swiftly gathered their strength and took decisive actions to acquire new equipment during the Black Friday sales. And working tirelessly over the weekend, they informed each client about the situation and steps were taken to resume operations. ManagedPAY was up and running by Sunday afternoon, with a fully remote setup in temporary locations.

This defining moment highlights the unparalleled dedication of the ManagedPAY team.

“We’re fortunate to have an extraordinary team of professionals who bring their talent, expertise, and unwavering commitment to the table,” says Carolyn Spoletini, COO and chief compliance officer of ManagedPAY.

The company operates as a PEO that has been providing peace of mind to clients since 1995 with an array of payroll, human resources, and health insurance services. Its culture of commitment and client-centricity is the driving force behind ManagedPAY’s ability to overcome client challenges.

“When it comes to medical, dental, and vision benefits, controlling costs is of paramount importance. In recent years, many employers have faced significant increases in these expenses,” says Spoletini. “However, our dedicated efforts and meticulous management of our plans and design, have allowed us to successfully navigate these challenges.”

ManagedPAY is dedicated to managing the entire lifecycle of employees and addressing their potential challenges through a comprehensive master benefits program. This program allows small and midsize businesses that would typically seek small group benefits plans to join their master plan. By doing so, clients gain access to large group employer rates while receiving underwriting specific to their individual needs within the master program.

When clients choose ManagedPAY, they receive a fully flexible program that allows employers to offer a wide range of benefits to employees, including medical, dental, vision, ancillary, long-term and short-term disability, life insurance plans, and FSA/HSA options. They also have the freedom to design benefits packages according to their preferences without any mandatory coverage requirements.

What sets ManagedPAY apart from other PEOs is its unique approach to underwriting. Rather than underwriting the entire group, it underwrites each client individually, which allows for mitigating risks and preventing increase in insurance premiums for the entire group due to a single employee’s health risks. By prioritizing cost management, ManagedPAY delivers a more stable benefits program.

Apart from benefits administration, Managed Pay offers a comprehensive Master 401k program known as MEP. Employers joining the PEO space have the opportunity to participate in this program and provide their employees with exceptional retirement benefits. The Master 401k program stands out with its extensive selection of investment options and a strategic partnership with Transamerica. Employees can effortlessly enroll in the program and conveniently manage their contributions through the Transamerica portal or the integrated payroll system, ensuring a seamless experience.

We are fortunate to have an extraordinary team of professionals who bring their talent, expertise, and unwavering commitment to the table

When it comes to plan management, ManagedPAY utilizes the Isolved platform. Isolved allows for full integration on the benefits module for both 401K feed integration and Health Plan feed integration with our carriers. The ease of managing all of the employee information in “one version of the truth” saves countless man hours allowing us to do what we do best, “Service our clients and their employees”.

ManagedPAY’s prowess can be exemplified by its remarkable performance during the challenging times of the COVID-19 pandemic. In 2021, the company experienced a zero percent increase in premium costs as it emerged from the pandemic. Even the following year, while the market saw significant increases, ManagedPAY managed a rise of four percent for their entire benefits program, which serves thousands of employees.

It is really a no-brainer that with its customizable programs, user-friendly Isolved platform, and hands-on approach, ManagedPAY is the ideal partner for companies seeking efficient and tailored HR and benefits management services.