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)