How to set up a new health insurance plan | Gusto


(upbeat music) – [Jacklyn] Hey there,
Jaclyn here to show you how to build a great benefits package that employees will love
starting with health insurance. On the benefits tab, go to
medical, dental, and vision. If the company already offers benefits, you can integrate them with
Gusto by selecting yes. To set up a new benefits
package, select no. Tell us a little more about the business so we can suggest a few
plans that are just right. Start by selecting employee status, full-time employees are
automatically eligible. In most states, this means someone who works 30 hours or more a week. One of Gusto’s licensed benefits advisors can help you determine how
your state defines this. Most carriers also allow employers to cover part-time employees who average 20 to 29 hours per week. To add an owner or officer
who is not on payroll but needs benefits, click here to add in
their account information. Select benefits for the team including medical,
dental, vision, and more. Each category has its own levels
of coverage to choose from. Keep in mind that it takes about 30 day to set up coverage with most carriers. Let’s start with medical. Medical plans are
categorized by the government into four tiers, bronze,
silver, gold, and platinum. All tiers offer the same
essential health benefits but as you move from bronze upwards, the monthly premium increases and the cost of individual
medical services goes down. You may want to adjust
the company contribution to employees and their dependents. Our licensed benefits
advisors can help you check on any applicable regulations. Next, you’ll choose a base plan, this plan should fit your budget and cover the needs of most employees. There’s different types
of plans to choose from including PPO, HMO, and POS
which we can help you navigate. In the plan details you’ll see monthly premiums for the
company and coverage details. You can also view this per employee. You can add richer plan options that employees can opt
into at their own expense which could include
higher tiers of coverage, and alternate network types. Employers can even offer buy down plans which cost employees
less than the base plan. Complete the package by adding
any other health benefits. This is optional but
employees have come to expect additional benefits and are
not too expensive to offer. Next, tell us a bit
more about the company, like when new hires should
start getting benefits. Under company information,
let us know if there’s an active worker’s compensation policy. This is required by most
health insurance companies. If you don’t have one,
Gusto’s got your back, visit the stay compliant
tab to get started. We also need to know whether the company files taxes as a S-corp and how you’ll contribute
towards owner’s premiums. And finally select company status. The business must be active
with the Secretary of State in the state where the company is located. Review the benefits package
to make sure that lines up and then submit. Upload if a few documents to verify the companies eligibility and provide you E-Signature so we can submit your request to carriers. You’re in great hands, we’ll send an email to summarize your health
benefits selection and contact you in a few
days to answer questions. And once we’re squared away we’ll reach out to employees
to kick off open enrollment. Health benefits with Gusto
means that payroll deductions happen automatically and we
take care of the administration and compliance support at no extra charge. (upbeat music)

Leave a Reply

Your email address will not be published. Required fields are marked *