Invoices and Health Insurance Payments
- The health insurance carrier sends invoices and bills the company for the health insurance premiums for all of the enrolled employees.
- Payments are made directly to the health insurance company and not through SimplyInsured.
- SimplyInsured makes it easy to calculate employee deductions, the amount withheld from employee paychecks to pay for their portion, through our "Manage Your Deductions" which can be accessed directly here:
*Note: Deductions in your Employer Dashboard reflect the employee's entire monthly premium and are applied pre-tax. You will need to calculate the deductions based on your company's pay schedule.
Example: You contribute 50% towards your employee's health insurance premiums. If an employee's monthly premium is $400 a month, your SimplyInsured dashboard will reflect the following:
|Employee||Monthly Premium||Employee Cost||Company Cost|
If you pay your employees twice a month, you will deduct $100 pre-tax per paycheck.
If your first month's payment was already included with insurance health insurance application submission:
- This payment could have been an ACH debit, voided check, or physical mailed check. This requirement varies by carrier and state.
- For payment instructions for subsequent months, follow this link to learn how to set up autopay:
*Note: It may take up to 1-2 billing cycles for autopay to be fully set up. If your automatic debit has not been debited from your bank account after setting up autopay, you will need to make a manual payment for that for that month.
If you have not yet received your first invoice:
- It may take the health insurance company about 1 month after your insurance is effective to send your first invoice. There is no risk of cancellation of your health insurance coverage if no payments are made prior to receiving this first invoice.
- Because health insurance companies typically generate invoices a month before the due date, your first invoice may include the premiums for 2 months of insurance coverage. Many insurance companies have a grace period for payment, so there is no risk of cancellation if you pay this invoice soon after you receive it.
Example: Your company signs up for insurance effective January 1st and the due date is on the first of the month. You may receive your first invoice around February 1st which contains the premium amounts for coverage for both January and February.
More information on payment instructions for this first invoice and to set up autopay can be found at this link:
If you have any questions about this, please submit a request to our customer care team at the link below: