QuickBooks adds benefits tool for small and medium sized businesses

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Small and medium sized employers using QuickBooks software will now be able to sign up for benefits through the company’s platform. The software provider said this week it has updated its online payroll system to include medical, dental and vision insurance.

“We know that many small business owners want to do right by their employees and offer health insurance benefits, but many feel it’s too expensive or confusing,” says Olivier Bartholot, director of QuickBooks Payroll.

See also: BerniePortal rolls out searchable benefit broker network

QuickBooks new benefits are offered through SimplyInsured, an online platform that helps small businesses compare and purchase employee medical, dental and vision insurance plans. Employers can compare insurance plans and manage their benefits through the QuickBooks Payroll platform. The tool will also calculate employee benefit deductions, generate quotes and provide customer support.

“When we focus on helping small business owners with the many aspects of managing their employees, we can turn one person’s dream into a thriving team,” Bartholot adds.

Offering benefits to workers can be expensive for smaller employers. HR software providers are increasingly stepping up to meet this need by developing solutions to help businesses better provide insurance to their workers. For example, TriNet added a new analytics tool in July to help small and medium sized businesses better assess their employees benefits, compensation and retention. BerniePortal rolled out a searchable broker network for employers in May.

See also: DOL final rule expands retirement plan options for SMBs

QuickBooks processes $185 billion in employer payroll annually. David Hendrickson, vice president of Big Waves Fitness, a personal training provider, uses the QuickBooks software and is now offering health insurance for the first time to employes. So far, he says he is happy with the tool.

“I get the support I need, and my employees are getting the health coverage they deserve,” Hendrickson says.

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