There has never been a better time to be the owner of a small business. In addition to improvements being made in the areas of office space, payment solutions, and customer relationship management tools, now health care management is consistently being solved through technology providers.
According to CNBC, the fintech firm, run by Twitter CEO Jack Dorsey, announced that “it would give small businesses using its payroll platform the option to offer perks like health insurance and retirement savings to employees.” This is now in line with other payroll companies such as Gusto and banking organizations that provide the service as well.
This is nothing new to the company that has made an aggressive move to expand its small business offerings. Starting as a credit card processing and payment solution in 2009, the company now offers, “payroll services, payment installation and loans through Square Capital.”
The new health insurance service will be supplied through “”technology-focused” firms — SimplyInsured, Guideline 401(k), Alice, and AP Intego. The available benefits range from health insurance, retirement savings, pre-tax spending, and workers’ compensation.”
These new benefits “will sync with Square Payroll and automate deductions and business contributions, which also helps with tax compliance.”