How Can a Small Business Owner Manage an Employee Benefit Plan?
For a small business owner, managing employee benefits can be a daunting task. Is there a simple solution? Yes! At ColvinCPA, we are constantly searching for apps and technology that can make life easier for our clients!
If you use Gusto’s payroll services, you need to know that they now manage employee benefits at NO extra cost to you. Gusto can be your simple solution! We find their process to be beautiful and it can provide you with peace of mind that your benefits plan is compliant with ACA, HIPAA, and ERISA.
Gusto handles open enrollment, payroll deductions, renewals, terminations/cancellations, and COBRA support with the same simple process that you are familiar with from onboarding your new hires.
The biggest perk is that Gusto provides customer service. In our experience, Gusto is laser-focused on providing outstanding customer service.
If you already have a small group plan, Gusto can work to make the transition seamless. If you want to explore the possibility of starting your first small group plan, Gusto can guide you through the steps.
Not sure if you have a small group plan or not? No worries. The basic definition is > 1 employee who receives a W-2 and is not an owner of the business. Still not sure? No worries. The first step with Gusto will be to send them a current invoice from your plan and then they can tell you.
Why is it free to you? Gusto becomes your broker and your insurance company pays your broker.
Do you want to learn more about this opportunity? Clients of ColvinCPA can simply email [email protected] to start the process. Here are some Gusto links to help you discover more:
This link is their helpful details.
This link is their super fun interactive demo.
This link is what open enrollment will look like.
Disclaimer – Everyone’s tax situation is different. You should always consult your tax advisor on tax matters to ensure you are in compliance.
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