If your company has employees pay for any portion of their insurance premiums, you will need to set up payroll deductions to collect your employees' share of the cost.
Each month your company will pay the full invoice, for all employee and dependent premiums, directly to the insurance company. Employees will then pay the company back for their portion of the premiums, by having their share withheld from their paycheck pre-tax.
When you deduct money from an employee's paycheck, this money remains in your company's bank account when you run your payroll. Thus, reimbursing the company for the employee's share of the premium. Your SimplyInsured dashboard makes setting these deductions simple and easy!
The "Set up Payroll" page can be accessed after you log in to your SimplyInsured dashboard at:
On this page, you will have all of the information that you will need to enter insurance deductions into your payroll system, as well as the option to utilize SimplyInsured's payroll integration to have your employee's deductions synced automatically.
The payroll page has two sections: the payroll integration form and the deductions table.
At the top of the Set up Payroll page, you have the option to enter your payroll information to set up an integration between your payroll system and SimplyInsured.
The payroll integration will automatically enter the deductions for your employees' insurance into your payroll system according to the employee contribution amount that we have on file. When you add a new employee to your SimplyInsured dashboard and they enroll in insurance, their deductions will automatically be added to your payroll system.
You can find more information on how to set up a payroll integration through this article:
Payroll Deductions Table
The "Payroll Deductions" table contains all of the information that you will need to set up the payroll deductions for your employees. Each employee will be listed here, along with the cost for their insurance coverage. If your company offers dental or vision insurance, those costs will be shown, as well.
After the total premium, the table also shows a breakdown of how much is paid by the company and how much should be deducted from the employees' paychecks. This is based on the contribution amounts that you entered during your application process.
You can use the "Your payroll period:" dropdown menu to select how often you run payroll. When you do so, our system will automatically calculate how much should be deducted from each paycheck to spread the deductions evenly across each paycheck. You can select a monthly, twice a month, every two weeks, or weekly payroll cycle.
You will receive a notification each time a new employee enrolls, and you can return to this page to find their payroll deduction amounts.